AUD/JPY Snaps Winning Streak as China Trade Data Bolsters Yen
The Australian dollar weakened against the yen on Friday, with AUD/JPY slipping to around 111.30 after China’s trade figures spurred safe-haven demand for the Japanese currency.
AUD/JPY halted a three-day winning streak during Asian trading on Friday, retreating to near 111.30. The decline came after China released its latest Trade Balance data, which heightened risk aversion across regional markets.
The Australian dollar lost ground as investors sought shelter in traditional safe havens, lifting the Japanese yen. The move marks a reversal from earlier sessions that had pushed the cross higher.
No further details on the Chinese data were immediately available, but the market reaction highlighted the Australian dollar’s sensitivity to developments in its largest trading partner.
Source: FXStreet Forex News