Australia, New Zealand dollars higher amid China's third-quarter data

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The Australian dollar rose on Monday after data showed China extended its economic recovery, and the New Zealand currency also posted gains following a landslide election victory for Prime Minister Jacinda Ardern during the weekend.

FILE PHOTO: Australian dollars are seen in an illustration photo February 8, 2018. REUTERS/Daniel Munoz/File Photo, which correlates closely with the Chinese economy, rose 0.2% to $0.7091 against the greenback, recovering a fraction of the previous week's losses.

With polls ahead of the election flagging Ardern’s win and no major new policies unveiled, the kiwi’s reaction has been somewhat subdued, analysts said. Analysts expect a cautious tone in coming days given the RBA’s policy meeting next month, held the same day as the U.S. election, is likely to put pressure on the Aussie.

 

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Money is never burning, money is only changing the persons.

Yeah sure? Funny mate

Because 'patriotic' chinese party members dump RMBs like hot potatoes. I guess NZ and Australian dollars are easier to buy than bitcoin.

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