Aussie surges further in Asia on China house prices
On Monday, the Australian dollar gained further in Asia as Chinese house prices added to a recent spate of positive economic data on the top export market for Australia with markets in Japan unavailable for a holiday and market participants looking ahead to major bank meetings in Washington and Tokyo this week.
The currency pair AUD/USD was worth 0.7520, soaring 0.41%, while USD/JPY traded at 102.22, tumbling 0.06%.
In China, August’s house prices added 9.2%, thus outpacing the increase of 7.9% observed in the previous month year-on-year.
Overnight, the greenback grew to a more than two-week peak against a basket of key currencies on Friday, as market participants digested key American inflation data, while looking ahead to a next week's policy gatherings from the BOJ and the Fed.
The Labor Department reported that in August, the consumer price index gained 0.2%, compared to hopes for a 0.1% revenue. Besides this, year-over-year, consumer prices tacked on 1.1%.