Risk currencies got off to a good start overnight with most of Asia returning from the holiday season. A strong non-manufacturing China PMI helped to keep risk sentiment supported, although the rise in FX was already underway. This latest data print complements China’s manufacturing PMI released over the weekend which was also surprisingly firm. AUD, the chief beneficiary, briefly touched 1.0300 having spent the past three weeks trading below, and NZD is firmly back above 0.78. EURUSD also reached higher ground, trading in a range of 1.2922-1.2989. Continue reading →