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Australian Dollar Strengthens Against Most Majors On Upbeat China Data

The Australian dollar reversed early Asian session's bearish trend against most of its major rivals on Friday following the release of a better-than-expected trade data from China.

Chinese Trade Balance rose $29.15 billion in January compared to $31.6 billion in the previous month. Economists had expected a surplus of $24.7 billion in the month.

The Australian dollar approached near the 1.03 level against the US dollar amid data, up from a fresh multi-month low of 1.0258 hit earlier in the session.

The aussie also inched higher to 96.37 against the yen and 1.3020 against the euro from a session's lows of 95.93 and 1.3058, respectively.

by RTT Staff Writer

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