Aussie Dollar Rises as China Manufacturing Data Exceed Estimates

Australia’s currency climbed against most of its 16 major counterparts after data on China’s manufacturing surpassed economist estimates, boosting prospects for the South Pacific nation’s commodity exports.

The Aussie snapped a two-day decline versus the dollar and three-year government notes fell as swaps traders pared bets the Reserve Bank of Australia will reduce borrowing costs. New Zealand’s dollar remained lower against the greenback as investors ponder whether the Federal Reserve will start to taper monetary stimulus that has weighed on the U.S. currency.