Asian Session – Aussie hits 4-month high after China PMI, RBA holds rates
Posted on April 1, 2014 at 6:49 am GMTChina released a mix of manufacturing PMI data on Monday. There were contradictory reports, with the official PMI showing a slight improvement to 50.3, while the private survey by HSBC showed a contraction at 48.0. The Australian dollar reacted positively to the official reading and jumped to a new 4-month high in a knee-jerk reaction, briefly hitting 0.9302 before retreating to 0.9265. Helping underpin the aussie was the Reserve Bank of Australia announcement that the main cash rate was left [..]