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AUD/USD Falls on Chinese Trade Balance, AUD/JPY Extends Rally

March 8, 2013 at 15:28 by Vladimir Vyun

Australian coins and banknotesThe Australian dollar fell against its US counterpart today after the Chinese trade balance demonstrated an unexpected surplus. The currency extended its rally versus the Japanese yen.

China’s trade surplus had a negative impact on the Aussie. The surplus was caused not just by rising exports, but also by the bigger-than-expected decline of imports. It was bad for Australia as most of nation’s goods are sold to the Asian country.

AUD/USD fell from 1.0264 to 1.0236 as of 15:28 GMT today. AUD/JPY rose from 97.32 to 98.21 and its daily high was at 98.89 — the highest since August 2008.

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