The Australian dollar strengthened on stronger-than-expected economic data from China, which some analysts saw as signalling that moves aimed at reviving spending in the world's second biggest economy are having some success.
China's industrial output bounced in June from a 17-year low in the previous month. June retail sales surged 9.8% from a year earlier, compared with the 8.3% - a slowing from May's tepid figures - that polled analysts expected.
The Australian dollar rose almost 0.2% to $0.7024 after China's data release. The data also lifted the China-exposed New Zealand dollar by 0.18% to $0.6721.
China's quarterly gross domestic product posted its slowest pace of growth in 27 years, as expected, growing by 6.2% in the June quarter compared to a year earlier.
The U.S. dollar, meanwhile, remains under pressure on expectations of a Federal Reserve rate cut. Comments last week from Fed Chair Jerome Powell and Chicago Fed president Charles Evans indicated U.S. rate cuts are needed to boost inflation.
Investors will be looking to U.S. retail sales figures due Tuesday and company earnings for signs of how shoppers and businesses are weathering the slowdown. Against a basket of currencies the dollar held near a 10-day low at 96.85.
13 Jul 2020 04:57 PM
Indian shares ended higher on Monday, led by a rally in Reliance Industries, ahead of June's inflation data which investors bet would lead to further interest rate cuts by the central bank.
13 Jul 2020 02:43 PM
The Indian rupee was little changed against the greenback, amid focus on decline in the dollar index
13 Jul 2020 11:45 AM
Indian shares climbed on Monday, as investors bet June inflation data later in the day would lead to further interest rate cuts by the country's central bank, while Reliance Industries gained for a third session.
13 Jul 2020 11:15 AM
The yuan hovered around the key 7 per dollar threshold on Monday, ahead of economic data this week
13 Jul 2020 10:45 AM
Gold prices rose on Monday, holding ground above the key $1,800/oz level, as a weaker dollar and worries over surging COVID-19 cases around the globe kept the safe-haven metal underpinned.
13 Jul 2020 10:31 AM
The Indian rupee was at 75.1275/75.1375 to the dollar against 75.2000/75.2100 in the previous session