China Fund to go on a spending spree

Morning all,

There is a story out that has sparked some buying in EURUSD and AUDUSD here this morning.

China’s government pension fund will embark on a multi billion dollar international buying spree, taking advantage of cheap assets to give its country a larger stake in Western companies.

The story has sprked buying interest in EURUSD up to 1.3075 and AUDUSD has followed suit, trading up to 7245.