The Australian Dollar maintained its strength against the US Dollar following the release of China's inflation figures. The AUD/USD pair traded in the 0.7220-0.7225 range, just below its highest point since May 14, according to FX Street.
China's inflation data often influences the Australian Dollar due to the close trade ties between the two countries, with investors reacting to economic signals from China that impact commodity demand.
For Japanese investors, monitoring the AUD/USD movements is important given Australia's role as a major commodity exporter and its impact on regional FX and equity markets.