The Australian dollar gained today even though economic data from China, the biggest trading partner of Australia, was not particularly supportive for the currency.
China reported that its trade surplus grew in February. While positive economic data from the Asian nation is usually good for the Australian currency, the improvement of the balance was a result not only of higher exports but also falling imports, and it is bad news for the Australian economy. Yet the Aussie did not fell far intraday and is actually rising currently together with many other currencies, which bounced following Friday’s drop against the US dollar.
AUD/USD traded at 0.7719 as of 12:42 GMT today after falling from 0.7711 to 0.7683 intraday. AUD/JPY was up from 93.15 to 93.39, bouncing from the daily low of 92.91.
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