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Aussie Surges to Highest This Month as China Trade Recovers

Australia’s dollar surged to the highest this month against the greenback after imports in China, the South Pacific nation’s biggest trading partner, rose more than expected in July.

The Aussie advanced for a fourth day as traders pared bets the central bank will lower the benchmark interest rate. Japanese investors were net buyers of Australian government bonds for the first time in almost a year, data showed today. The currency briefly fell after a report showed Australian employers unexpectedly cut workers last month. New Zealand’s dollar held a two-day gain.