USD/JPY around 103 as China Data Disappoints

The yen rose across the board early on Monday as investors gave riskier currencies, such as the Australian dollar, a wide berth after China data fueled worries about a slowdown in the world’s second-biggest economy.

Figures released over the weekend showed a surprisingly sharp drop in exports that tipped China’s trade balance into a deficit, while inflation cooled to its slowest pace in 13 months.

Analysts cautioned against reading too much into the trade figures given possible distortions caused by the Lunar New Year holiday, but investors were taking no chances.

CNBC

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