The Australian dollar has recovered from a fall sparked by comments from the Chinese finance minister who said China was unlikely to receive a massive stimulus this year.
At 6.30am AEST the local unit was trading at 91.69 US cents, up from 91.52 cents at yesterday’s local close.
The statement from Minister Lou Jiwei said large-scale fiscal stimulus measures wouldn't be used this year, which re-awakened fears of a slowdown in Australia's main trading partner.
Source:
http://www.theaustralian.com.au/business/markets/australian-dollar-claws-back-from-fall-on-lou-jiwei-comments/story-e6frg94o-1226681749064
