Yen Soft Despite Improving Trade Balance

The Japanese yen fell today even though economic data showed a bigger-than-expected increase of the Japan’s trade balance surplus. The losses were limited, though, and the currency even managed to keep its ground versus the US dollar, against which the yen has fallen during the previous two sessions.

Japan’s trade surplus logged ¥0.47 trillion in October, up from ¥0.36 trillion in September. The gain was the result of both falling import and rising export. The actual figure was above the analysts’ median forecast of ¥0.41 trillion. Yet that did not help the Japanese currency to rise against its rivals.

USD/JPY traded at 110.79 as of 10:19 GMT today after opening at 110.91. EUR/JPY rallied from 117.48 to 117.80.

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