The Australian dollar rose Thursday, July 20, after the country’s jobs data beat expectations, while the yuan rose after China moved to curb its currency’s decline by easing a rule for cross-border financing.<\/p>\n\n\n\n
Thursday’s data showed that employment in Australia easily beat expectations for the second consecutive month in June, with net employment rising by 32,600 in June from May, beating market expectations for a 15,000 increase.<\/p>\n\n\n\n
This pushed the Australian dollar up by more than 0.9%, hitting a one-day high of $0.6834.<\/p>\n\n\n\n
The New Zealand dollar rose 0.57% to $0.6299.<\/p>\n\n\n\n
In Asia, the central bank and China’s foreign exchange regulator said they have raised the cross-border macroprudential adjustment standard for companies and financial institutions, a move aimed at making it easier for local firms to raise funds from overseas markets.<\/p>\n\n\n\n
This comes at a time when the Chinese Yuan is facing pressure as the country’s economic recovery falters.<\/p>\n\n\n\n
Allowing more capital inflows would ease pressure on the currency.<\/p>\n\n\n\n
The yuan jumped in the domestic and foreign markets after this move, and rose in both cases by more than 0.5% against the dollar.<\/p>\n\n\n\n
The yuan recorded abroad 7.1901 per dollar, and at home it exceeded 7.18 per dollar.<\/p>\n\n\n\n
The British Pound recovered some of the huge losses incurred after falling sharply in the previous session following inflation data in Britain, which came in below market expectations.<\/p>\n\n\n\n
The pound sterling rose in the latest transactions by 0.15% to 1.2958 dollars, after falling by more than 0.7% yesterday, Wednesday.<\/p>\n\n\n\n
The euro rose 0.24% to $1.1227, as investors await the European Central Bank’s policy meeting next week, seeking more clarity on interest rate expectations.<\/p>\n\n\n\n
The dollar index settled in the latest reading at 100.03, regaining some of its gains after declining last week by more than 2% in reaction to US inflation data, which came less than expected.<\/p>\n\n\n\n
The Japanese yen rose 0.3% to 139.23 per dollar.<\/p>\n