The Australian dollar rose to a one-week high against the greenback on Wednesday, underpinned by strength in stocks and commodity prices, but slightly disappointing Chinese data knocked the currency off the session peak. The Aussie dollar climbed to a high of $1.0873 early in the session, gaining momentum after having broken through $1.0800 overnight.
It later slipped to a session low of $1.0836 after Chinese industrial output and inflation data suggested slower activity in Australia's key export market. The Aussie last traded at $1.0857, up from $1.0831 in New York. The New Zealand dollar was hampered by comments from Reserve Bank of New Zealand Governor Alan Bollard, who twice said the currency was too high. The Aussie touched a one-week high against the kiwi at NZ$1.3674, before edging off to last trade at NZ$1.3656.
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