riskier FX up as stocks rise
LONDON, Sept 1 (Reuters) The dollar fell versus a basket of currencies on Wednesday as upbeat data from China and Australia revived shaky equity markets and gave a boost to risk sentiment.
Australia’s economy grew at canada goose black like it canada goose outlet https://www.topcanadagoose.ca friday sale the canada goose uk shop fastest pace in three years in the second quarter as households spent far uk canada goose outlet more than expected while exports enjoyed an Canada Goose online Asian driven boom, reviving the risk of a further rise in interest rates and leading to a surge in the Aussie dollar
Aussie seems to be driving things on the day. There a bit of optimism in the market and the risk on currencies are benefiting, said Paul Canada Goose Parka Mackel, director of currency strategy at HSBC.
Other data showed Chinese manufacturing staged canada goose factory sale a moderate rebound in August, easing concerns about the pace of global growth uk canada goose that are based on Canada Goose Outlet weakness in the United States.
At 1115 GMT, the Australian dollar was trading Canada Goose Jackets at $0.9055, up 1.6 percent on the day and its highest canada goose uk outlet in cheap Canada Goose two weeks.
The Aussie rise contributed to Canada Goose Coats On Sale a canada goose store 0.8 percent fall in the canada goose clearance dollar versus a currency basket to 82.60, down from a 6 week high hit last week at 83.559.
Some market participants said the strong data canada goose from Australia and China had given the chance for investors to cut short positions in higher risk currencies including the euro and the Australian and New Zealand dollars.
market has taken out those (short) positions, I think it probably neutral now, said a trader in canada goose coats on sale London. manufacturing buy canada goose jacket cheap at 1400 GMT, may spark another round buy canada goose jacket of selling in higher risk currencies.
Analysts said that while Wednesday data had offered a reprieve to riskier currencies, any rallies would be short lived as they would likely be met by selling, while canada goose uk black friday currencies perceived to be safe canadian goose jacket haven, including the Swiss franc and the yen, would continue to rise.
The euro EURCHF= rose 0.8 percent to 1.2976 francs, recovering from a lifetime low versus the euro hit on Tuesday at 1.2850 francs on trading platform EBS. The Swiss canada goose clearance sale franc eased across the board after a broad rally the previous day.
Still, it rose to 1.0125 francs per dollar
EYES ON JAPAN The dollar pulled back from the day high of 84.58 yen and remains within shouting distance of a 15 year low of 83.58 hit on EBS last week.
Dollar/yen hit the day cheap canada goose uk high after Japanese Canada Goose Online ruling party powerbroker Ichiro Ozawa, challenging Prime Minister Naoto Kan in a party leadership vote, said he Canada Goose sale would implement steps including intervention if the yen rose sharply. [ID:nTFD006532]
Ozawa, in a showdown with canada goose coats Kan in the Sept. 14 vote for ruling party leader and hence prime minister, has a strong political base within the ruling Democratic Party that could threaten Kan position. (Additional reporting by Naomi Tajitsu; editing by Stephen Nisbet).