The Australian dollar reversed a drop after better-than-expected Chinese economic data allayed concerns about the outlook for the world's second-largest economy.
AUD/USD rose as much as 0.2% to 0.6379 as figures on China's economic growth, retail sales and industrial output all exceeded economists' forecasts. Leveraged funds scrambled to cover intraday Aussie shorts in the wake of the data, traders said.
A stabilization in China's growth augurs well for the global economy, and is expected to boost demand for commodities from exporters such as Australia.
The Bloomberg Dollar Spot Index was little changed; the yield on 10-year Treasuries was steady at 4.83%.
USD/JPY slipped 0.1% to 149.69.
Source: Bloomberg
