The dollar was on the front foot on Wednesday, drawing support from yet another resilient U.S. economic data reading, while the euro struggled to make headway on the back of a darkening growth outlook in the bloc.
The Australian dollar rose more than 0.5% in an initial knee-jerk reaction following a higher-than-expected inflation print in Australia on Wednesday.
U.S. business output ticked higher in October as the manufacturing sector pulled out of a five-month contraction, data on Tuesday showed, while separate data released the same day showed the euro zone’s business activity in contrast took a surprise turn for the worse this month.
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