LONDON—The dollar slumped and China’s yuan gained on Wednesday after China’s manufacturing activity expanded at its fastest pace since April 2012, while the euro rose after regional German inflation data signaled price pressures remain high.
The Australian and New Zealand dollars were also among the beneficiaries of the robust Chinese data, which smashed expectations with the official manufacturing purchasing managers’ index (PMI) shooting up to 52.6 last month from 50.1 in January.
