Kina performs strongly vs major currencies

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THE kina performed strongly against major currencies last week, thanks to US dollar’s elevation during the week.
The greenback performed well against a basket of major currencies.
Earlier in the week, a solid fourth quarter gross domestic product (GDP) data in US saw the greenback elevate against the currency basket.
A deterioration of debt in Europe led to sell-off in euro currency and growth-linked currencies saw the greenback continue its topside pursuit on Friday.
The ANZ weekly market report said the local currency relatively performed strongly against most major currencies as the greenback elevated last week.