The Japanese yen advanced today after Japan posted trade balance surplus in February and as concerns about the possible North Korean rocket launch increased demand for the yen as a safe haven.
Japan’s current account had a 1.18 trillion surplus in February after it posted a deficit in January. The average forecast was a 1.12 trillion surplus. North Korea is rumored to plan a long-range rocket launch that would follow underground nuclear tests. South Korean officials voiced concerns that the launch threatens peace and stability in the region.
USD/JPY fell from 81.51 to 81.33 as of 13:11 GMT today and the daily minimum of 81.18 was the lowest since March 8. EUR/JPY went down from 106.76 to 106.24, reaching 106.16 intraday — the lowest price since March 7.
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