June 5, 2023 – Written by John Cameron
Leave a comment STORY LINK Pound Australian Dollar Exchange Rate News: GBP/AUD Slipped amid Improving Chinese Recovery
Australian Dollar (AUD) Underpinned by Strong Chinese Rebound
The Australian Dollar (AUD) found some moderate strength to open the week after it was revealed China reported better-than-expected services PMI.
Against expectations of 55, the service sector jumped to 57.1, marking the fifth straight month of expansion. The reading also signalled the second fastest growth since November 2020. With new orders and employment growing substantially, the rebound follows stronger-than-expected manufacturing PMI last week….
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