The Australian Dollar weakens against the Yen after China’s trade balance data sparks risk aversion in Asian markets.
The AUD/JPY pair fell to around 111.30 in Asian trading on Friday, ending a three-day winning streak. The decline follows weaker-than-expected China trade data, which fueled demand for safe-haven assets like the Japanese Yen.
Prior to the drop, the pair had gained ground for three consecutive sessions. Market sentiment shifted as concerns over China’s economic outlook weighed on the Australian Dollar, a proxy for regional growth.
No immediate market reaction was specified beyond the currency pair’s movement.