The Australian Dollar (AUD) continued its gains for the second straight session against the US Dollar (USD) on Friday.
The AUD gained support following a Financial Times report that the People's Bank of China (PBOC) is expecting a timely interest rate cut this year.
As a close trading partner, any fluctuations in the Chinese economy are likely to affect the Australian market.
The National Development and Reform Commission (NDRC), China's state planner, expressed confidence in achieving a sustained economic recovery by 2025. In a statement on Friday, the agency highlighted plans to significantly increase funding from ultra-long government bonds to support "two new programs", with the expectation of steady consumption growth throughout the year.
Source: FXStreet
