Yuan, Australian dollar gain on upbeat China factory survey
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TOKYO - A surprise improvement in Chinese factory activity supported the yuan and Australian dollar on Monday, and provided a broader boost to global investor confidence, helping the dollar gain against the safe-haven yen. That pushed the Australian dollar, often seen as an investment proxy for Chinese economic prospects, 0.15 percent higher to $0.7107. The Chinese yuan also gained 0.2 percent in offshore trade to 6.711 to the dollar. The U.S. dollar rose 0.15 percent to 110.93 yen, extending its advance from the 1-1/2-month low of 109.70 it touched a week ago. The Mexican peso gained 0.4 percent to 19.347 to the dollar while the South African rand gained more than 1.2 percent to 14.317 per dollar. The Turkish lira eased 0.9 percent to 5.591 per dollar after President Tayyip Erdogan's ruling AK Party was set to lose control of the capital Ankara for the first time in a local election and he appeared to concede defeat in the country's largest city, Istanbul.
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