Aussie Has Best Week Since 2011 as Data Signal China’s Stability
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Australia’s dollar had its biggest weekly gain since 2011 after industrial output data today added to signs of economic stabilization in China, the South Pacific nation’s largest trading partner.
The currency rose for a fifth day as the Reserve Bank damped expectations for further easing after cutting its key interest rate to a record low this week. In its Statement on Monetary Policy today, the central bank reduced its outlook for growth. New Zealand’s dollar maintained a three-day climb.