USD/JPY: Yen hits six-month high as RBA's Hunter flags cooling growth

The Japanese yen surged to a six-month high during the Asia-Pacific session. The source does not report a price level, percentage or pip figure for the move. In Australia, the RBA's Hunter said the central bank is deliberately cooling housing and broader growth, a policy stance AUD traders will watch. China's August trade data were mixed. Exports matched forecasts, but imports fell short of expectations as domestic demand stayed soft. Separately, China's halt on purchasing Rio Tinto iron ore appears set to take effect. This matters for Australia as a major ore exporter. In equities, South Korea's Kospi surged past 7,130 on strength in chip stocks, while Japan's Nikkei posted a modest gain. For traders, the yen's advance points to continued downside pressure on USD/JPY. Weak Chinese import demand, the Rio Tinto ore purchasing halt and the RBA's cooling message are all factors to monitor for AUD/USD.