Economics
Aussie, N.Z. Dollars Rise Amid Signs of China Improvement
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The Australian and New Zealand dollars advanced after reports showed better-than-expected industrial production and retail sales in China, boosting the export outlook for the South Pacific nations.
The so-called Aussie and kiwi reversed earlier declines versus their U.S. counterpart. China’s central bank governor and statistics chief signaled October data to be published from today will show growth improving this quarter in the world’s second-largest economy. Australia’s currency weakened earlier after the Reserve Bank reduced its 2013 growth forecast.