News Column

Australian Dollar Retreats After China Inflation Data

July 8, 2014

CANBERA (Alliance News) - The Australian dollar moved away from its early highs against the other major currencies on Wednesday's Asian deals as China's consumer prices grew slowly in June.

The data from the National Bureau of Statistics showed that Consumer prices in China were up 2.3% on year in June. That was shy of forecasts for 2.4%, and it was down from 2.5% in May.

The aussie eased from early highs of 95.60 against the yen, 1.0707 against the kiwi and 1.4459 against the euro and was trading at 95.41, 1.0679 and 1.4499, respectively.

The aussie retreated to 0.9390 against the greenback, from an early 6-day high of 0.9415.

The aussie is likely to find support around 0.93 against the greenback, 1.46 against the euro, 95.00 against the yen and 1.06 against the kiwi.

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Source: Alliance News

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