Yen Falls vs. US Dollar, Reverses Losses vs. Other Rivals

The Japanese yen fell against the US dollar during the current trading session. While the currency had also been down versus other rivals intraday, currently the yen reversed its decline, erasing losses outright against some peers.

Looking at today’s economic data, it seemed good for the yen. Japan’s trade balance turned from a deficit of Â¥0.21 trillion in February to a surplus of Â¥0.12 trillion in March. It was somewhat bigger than the forecast excess of Â¥0.10 trillion. Yet for some reason the currency reacted negatively to the report, falling immediately after its release.

USD/JPY rose from 106.99 to 107.30 as of 9:08 GMT today. CHF/JPY has retreated to the opening level of 110.74 by now after rising to the daily high of 111.00 earlier.

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