Asia Recap: AUD sees relief rally

FXStreet (Bali) - The antipodean currencies were the top performers during Asia, especially the Aussie, with the US Dollar slightly weaker in a move seen as corrective in nature.

AUD/USD jumped above 0.81 on a better-than-expected Australian trade deficit, with news that China is planning to accelerate a $1 trillion stimulus package in projects to spur growth in the country, via Bloomberg, assisting the intraday rally in the AUD, topping out at 0.8150. NZD/USD, meanwhile, played catch up with the Aussie, surging as high as 0.7745 ahead of today's dairy auction by Fonterra - starting at 12 GMT -, next big mover for the Kiwi.

USD/JPY traded with a heavy tone, reaching a session low of 119.15 after a double topside failure at 120.70 in recent days, communicating that profit taking may accelerate should 118.80 be cleared. A risk aversion mood in Japanese equities firmed up the bid tone in the Yen, with the Nikkei 225 heading into the close at 16,922.62, after a drop of -2.79%. In the Asian region, the MSCI Asia apex 50 was down 1.91%.

Key headlines

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Leveraged funds increased net long USD to a new record high - ANZ

AUD/USD: Short squeeze reaches 0.8150

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