The Australian dollar fell against its major counterparts (with the exception of the Japanese yen) as the nation’s trade balance missed market expectations.
Australia’s trade deficit rose from A$0.3 billion in October (negatively revised from the surplus of A$0.11 billion) to A$0.63 billion in November. It was nowhere near the excess of A$0.55 billion predicted by economists. The Australian currency dropped after the report, halting the earlier rally, though the Aussie managed to retain gains against the very weak yen.
AUD/USD fell from 0.7861 to 0.7843 as of 13:27 GMT today. At the same time, AUD/JPY rallied from 88.63 to 88.84, bouncing from the daily low of 88.43.
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