The Japanese yen was flat against the US dollar and gained on the euro after trade data from Japan had been released. Initially, the currency weakened against the greenback following the release but bounced later and is trading close to the opening level right now.
The report showed that Japan’s exports fell 1.5 percent while imports rose 1.8 percent, resulting in a trade deficit of ¥0.21 trillion. Still, it was not as big as the ¥0.38 trillion gap predicted by analysts. The data had limited impact on the yen that has been moving sideways for the most part of the trading session but shows bullish bias currently.
USD/JPY traded at the opening level of 121.49 as of 16:17 GMT today after rising to 121.77 intraday. EUR/JPY dropped from 133.70 to 133.29.
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