CANBERA (dpa-AFX) - The Australian currency traded higher against its US counterpart during late New York trading on Thursday from previous session's multi-month low.
Continuing its Wednesday's downward trading, the Aussie declined further against the greenback in Asian and European deals today after a survey by Markit Economics revealed that China's manufacturing activity worsened further in March.
The headline flash HSBC manufacturing purchasing managers' index fell to a four-month low of 48.1 in March from 49.6 in February. A PMI reading below 50 indicates contraction of the sector, while a reading above 50 suggests expansion.
No other major economic report were released in the Asian session.
At 5:30 am ET, the Aussie fell to more than a 2-month low of 1.0359 versus the US currency from Asian session's closing value of 1.0414.
During New York morning trading on Thursday, the Australian unit extended its early decline versus the greenback and dropped to a fresh multi-month low of 1.0339 as of 10:15 am ET. Thereafter, the pair edged up in late afternoon session and as of now trading near 1.0398.
Copyright RTT News/dpa-AFX