Japanese Yen Continues to Recover Against Majors

The Japanese yen gained against majors today, continuing to recover after the big drop on Tuesday. The yen performed a bit worse versus commodity currencies as the market sentiment stabilized after China’s better-than-expected trade report.
As for domestic data, Japan’s Ministry of Finance released a current account report for June. It showed an increase to Â¥1.94 trillion on a seasonally adjusted basis from Â¥1.31 trillion in the previous month. The actual value was higher than Â¥1.76 trillion predicted by experts.
USD/JPY dropped from 106.26 to 105.96 as of 11:38 GMT today. EUR/JPY declined from 118.99 to 118.63.

If you have any questions, comments, or opinions regarding the Japanese Yen, feel free to post them using the commentary form below.

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