A risk-off theme underpinned the Yen while weighing on the Dollar bloc currencies. AUD-JPY, NZD-JPY and CAD-JPY are all showing gains of over 0.5%. This came with Asian stock markets and oil and other resource commodity prices tumbling after China trade data showed imports down 7.6% y/y in December while exports contracted 4.4% y/y. AUD-USD is posting its first down day since January 2, posting a two-session low at 0.7175. The Dollar has traded mixed, losing ground to the Yen but gaining modestly on the Euro. USD-JPY printed a two-session low at 108.04.
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