AUD Strengthens Amid China PMI Data and RBA Comments

Australia's currency, the Australian Dollar (AUD), has strengthened following new data on China's manufacturing sector and comments from Reserve Bank of Australia Assistant Governor Sarah Hunter.

The RatingDog Manufacturing Purchasing Managers' Index (PMI) in China eased to 50.9 in July, missing market expectations of 51.5, but still signaling expansion in manufacturing activity.

Hunter described the latest Australian inflation print as 'a touch softer' than anticipated, with the downside surprise mainly driven by lower fuel prices.

The US Dollar (USD) struggled against major peers after Japan confirmed joint currency interventions with the United States, with Bank of Japan data pointing to spending of up to $58.97 billion on Thursday.