AUD Rebounds as Aussie Exports Surge, Yen Fears Support JPY
The Australian Dollar (AUD) regained momentum against its Japanese counterpart (JPY) after data showed a rebound in Aussie exports and a narrowing trade surplus.
Australia's Trade Balance narrowed to A$495 million month-over-month in August, down from A$1,351 million in July. This was driven by a 5.8% MoM increase in imports and a 3.7% MoM rise in exports.
The AUD/JPY pair halted its seven-day losing streak, trading near 109.80 during Asian hours on Thursday. Strategists at Societe Generale noted that the yen's strength was partly due to market caution around potential official measures and intervention fears.