Aussie dollar performs positively
The Australian dollar responded positively to reports that the Asian economic growth is resilient enough.
The currency gained against 15 of its 16 major counterparts after reports showed that the economic growth in the Asian region has been sustained.
Australia's currency rose to 90.98 U.S. cents as of 12:12 p.m. in Sydney after climbing to 91.09, the strongest level since May 5. The currency advanced 0.7 percent to 78.76 yen. New Zealand's dollar gained 0.4 percent to 72.87 cents and appreciated 0.5 percent to 63.10 yen.
An analyst from Nomura Securities said that the Aussie dollar also has a potential to maintain its momentum in the coming days as manufacturing output figures in the country and China are estimated to turn out well.
"Tomorrow we anticipate that Australia's retail sales and building approvals advanced in June. China's manufacturing also improved. This in turn will give support to the Aussie and kiwi."
The performance of manufacturing index in Australia rose 1.5 points to 54.4, the Australian Industry Group and PricewaterhouseCoopers said in a survey released in Canberra today. A figure above 50 shows the industry is expanding.