The Aussie fell sharply on Wednesday as some feared China's steps toward tightening could eventually slow both its economy and global demand. Yet so far, analysts say China's actions have been modest and aimed at heading off bubbles rather than reining in growth.
"China's data is a positive for Australia because growth will continue to be strong and we expect longer commitments from China to their infrastructure investment growth cycle," said Patrick Bennett, Asia FX and rates strategist at Societe Generale in Hong Kong.