The dollar has traded mostly softer today, correcting after gaining on Monday. AUD-USD led the way from the Sydney session following Australian data showing that exports made a 1.1 percentage point contribution to Q1 GDP, up from a zero contribution in the previous quarter and above the consensus view for a 0.7 percentage point outcome. This sent economists scurrying to upgrade GDP forecasts ahead of tomorrow's release of growth data for the March quarter. AUD-USD was showing a 0.9% gain as of the early London PM session, at 0.7246 bid, having earlier logged an eight-day peak at 0.7251.
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