AUD Halts Winning Streak vs JPY Amid Global Safe-Haven Demand

The Australian Dollar (AUD) has halted its three-day winning streak against the Japanese Yen (JPY), trading at around 111.30 during Asian hours on Friday.

This reversal comes as global safe-haven demand surges due to escalating tensions in the Strait of Hormuz, causing market instability and skepticism over the shipping route's reopening.

China's latest trade figures present a mixed economic picture, with a June Trade Balance in US Dollar terms of $112.5 billion, exceeding expectations but falling short of the previous figure.

Rabobank's FX strategists maintain that there is still risk of one more rate hike this year by the Reserve Bank of Australia (RBA), which could keep a modest upside bias in the AUD out to 12 months.