Yen tumbles, Australian, New Zealand dollars rally on upbeat China data
Monday, 2 December 2019 16:04 WIB | CURRENCIES |Aussie Euro YenCurrency

The Japanese yen fell to a six-month low on Monday and the Australian and New Zealand dollars rallied after an unexpected rebound in Chinese manufacturing activity raised hopes of a brighter outlook for the world economy.

The euro was steady ahead of a testimony to the European parliament later in the day by the European Central Bank™s new president, Christine Lagarde. A tightening British election race knocked the pound lower.

The latest data out of China, the world™s second biggest economy, set the tone for currency markets. Chinese factory activity expanded at the quickest pace in almost three years in November, a private business survey showed on Monday, following upbeat official data over the weekend.

The safe-haven yen fell to 109.73 per dollar, its lowest since May and was last down a fifth of a percent at 109.63.

Riskier currencies also rallied after the Chinese data, with the Australian dollar up a third of a percent at $0.6779.

The euro was steady at $1.1017 before Lagarde's testimony to the European parliament later in the day.

Source : Reuters

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