Japan’s Trade Deficit Widens, EUR/JPY Falls
The Japanese yen advanced today against the euro and was little changed versus the US dollar after the report showed that the nation’s trade balance deficit widened last month, adding to signs of global economic slowdown.
The Ministry of Finance reported that Japan’s trade balance posted a deficit of ¥0.33 trillion. That was a little increase from the deficit of ¥0.32 trillion, but the actual value was much smaller than the predicted ¥0.46 trillion. The data was just another evidence to global slowdown that weakened risk appetite of investors. Japan’s currency profited from that even as it was the economy of Japan itself that diminished optimism of traders.
EUR/JPY fell from 98.85 to 98.53 as of 13:13 GMT today. USD/JPY was down from 79.27 to 79.19.
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