Australia
Tuesday, 29 January 2013 10:13
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SYDNEY/WELLINGTON: The Aussie and kiwi dollars shot up near four-year peaks versus the yen on Tuesday, while bouncing elsewhere as a jump in business confidence in Australia and a surprising trade surplus underpinned both currencies.
The Aussie advanced to $1.0435, from $1.0412 early, having touched one-month lows of $1.0384 on Monday. It gained momentum on the euro with the Aussie up 0.2 percent on the day to A$1.2892, after plumbing its weakest since May at A$1.2958.
It made bigger strides against the yen and was last seen flirting with a fresh four-year peak of 95.08 yen scaled last week. It last changed hands at 94.86.
The Aussie has gained 15 percent on the yen since November with some analysts expecting the rise to continue given the Japanese government's determination to fight deflation and lower the currency.
But Matthew Johnson, a rate strategist at UBS, is not so convinced about further Aussie gains. Instead, he ...
MELBOURNE: Australian shares rose 0.5 percent in afternoon trade on Thursday, reversing earlier losses, as a measure of growth in China's factory sector accelerated to a two-year high in January, boosting local miners.
The HSBC flash purchasing managers' index (PMI) rose to 51.9 in January, the highest since January 2011..
The positive read from China, Australia's top export market, helped BHP Billiton recover earlier losses.
The benchmark S&P/ASX 200 index was up 24.7 points at 4,812.5 by 0248 ...
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