The Australian dollar traded lower versus the greenback as
Australian business’ reported a 2.9 percent operating loss in the third quarter
while inventories increased by 1.1 percent suggesting the overall economic
climate appears to have slowed.
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The greenback has gained strongly versus the yen after the
dissolution of parliament in Japan and the dollar yen rate has increased over 3%
on the monthly basis; this scripts the largest increase since February this
year.
The euro suffered a bit of a setback as the wake of Moody's
downgrade of the euro zone rescue fund late last week. China's official
manufacturing purchasing managers' index rose to a 7-month high of 50.6 in
November from 50.2 in October, following a preliminary private sector survey
that showed factory activity reviving to a 13-month
high.
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