The Australian dollar rose against its US peer today even though the trade balance surplus unexpectedly turned into deficit in April. The currency sank against the Japanese yen earlier but bounced later and trades near the opening level currently.
The Australian trade balance showed a deficit of A$122 million in April after demonstrating a surplus of A$1,024 million in March. Analysts anticipated an excess of A$400 million. Risky currencies were strong today due to hopes that the European Central Bank policy decision will create additional liquidity that allows speculators to invest into riskier assets.
AUD/USD rallied from 0.9275 to 0.9295 as of 11:51 GMT today. AUD/JPY dropped from 95.29 to 94.94 but bounced to 95.30 as of now.
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