$A down despite good Chinese PMI
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SYDNEY, Jan 25 AAP
January 25 2013, 06:37AM
The Australian dollar continues to weaken despite a positive reading for Chinese manufacturing, falling more than half a US cent overnight.
At 0630 AEDT on Friday, the Australian dollar was at 104.62 US cents, down from Thursday's local close of 105.14 US cents.
On Thursday afternoon, HSBC released its purchasing managers' index (PMI) for January, showing a rise to 51.9, up from 51.5 the previous month.
A reading above 50 shows growth, anything below 50 represents a contraction.
Despite the positive reading, the Australian dollar slid lower towards the end of the day.
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