Australian Dollar Soars as Q2 GDP, Chinese PMI Top Expectations

The Australian Dollar surged against all of its major counterparts after second-quarter Gross Domestic Product figures showed the economy added 1.2 percent in the three months through June, topping economists’ forecasts calling for a 0.9 percent increase and marking the largest increase in three years.

The currency was already on its way higher ahead of the GDP report after Chinese Manufacturing PMI figures...