Australian Dollar Jumps, Supported by Economic Data

The Australian dollar jumped today as economic reports from Australia as well as from the United States were positive, improving the market sentiment and encouraging traders to take more risk.

Australian building approvals rose 7.5 percent in November from October following the 11.5 percent growth in the previous reporting period. The actual reading was much better than forecasts that promised a 2.7 percent decrease. The Aussie rallied with the help of the data as well as after prices for raw materials bounced, increasing appeal of currencies of commodity-exporting countries.

AUD/USD climbed from 0.8075 to 0.8124 and AUD/JPY surged from 96.29 to 97.13 as of 16:30 GMT today.

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