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China's exports are expected to fall 12.5% in July from a year earlier, based on a Reuters poll of economists, extending a drop of 12.4% in June and marking the worst reading since the early days of the pandemic in February 2020.
Currency depreciates 0.16% in inter-bank market
Experts say they expect short covering after Thursday's correction
The U.S. dollar index, which gauges the currency against a basket of six counterparts, edged 0.07% lower to 102.38 in early Asia. On Thursday, it had pushed to the highest since July 7 at 102.84 at one point, but lost steam later in the day with the monthly nonfarm payrolls report looming on Friday.
The Japanese currency has come under pressure this week even as the Bank of Japan on Friday loosened its grip on interest rates. Policymakers have also been quick to pushback against speculation that the move was a prelude to an imminent exit of the central bank's ultra-easy policy.