The Japanese yen opened lower and proceeded to fall during the current trading session as the optimistic market sentiment and Japan’s shrinking trade surplus weighed on the currency.
Japan’s trade balance logged a surplus of ¥0.16 trillion in January. It was smaller than the predicted ¥0.26 trillion and the December’s ¥0.33 trillion. The unfavorable data hurt the currency, which already had been under pressure from the traders’ positive that was aiding riskier currencies and damaging safer ones.
USD/JPY ticked up from 112.88 to 113.10 as of 12:06 GMT today. EUR/JPY jumped from 119.72 to 120.20.
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