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 private-sector involvement in bailouts.

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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