Yen Rises as Chinese Export Growth Slows
The Japanese yen advanced today after the report showed China’s export growth rose with slower pace last month, resulting in shrinking trade surplus.
The surplus of China’s traded balance decreased in September from $17.8 billion to $14.5 billion, the smallest since May. The projected figure was $17.1 billion. The yen also gained on the worsening outlook for Germany’s economic growth and the statement of the European Central Bank about the danger of
USD/JPY slipped from 77.24 to 76.77 as of 13:58 GMT today, while it reached the minimum of 76.66 intraday. EUR/JPY dropped from 106.54 to 105.17.
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China, EUR/JPY, Europe, European Central Bank, Japan, Trade Balance, USD/JPY, Yen
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Earlier News About the Japanese Yen:
- Japanese Yen Weaker Against Most Currencies (Not the Dollar, Though) (2011-10-10)
- Yen Weaknes as Risk Aversion Fades on Eurozone Expectations (2011-09-27)
- Bad Week for Global Economy, Good Week for Yen (2011-09-24)
- Yen Gains as China Imposes Conditions on Help to Europe (2011-09-14)
- Moody's Downgrades Japan, Yen Rallies (2011-08-24)