27 Jan 2014
USD/JPY back above 102.00 after data, despite Nikkei slump
FXstreet.com (Córdoba) - The USD/JPY fell at the beginning of the week to 101.75, hitting the lowest price since December 6, but afterwards bounced back above 102.00. The US dollar rose further after the release of trade data from Japan and minute from the central bank and following a bad opening for stocks in Asia.
In the first minutes of trading the Nikkei 225 is losing more than 2.50%. Despite risk aversion in Asia, the Yen is moving to the downside across the board.
USD/JPY rises after record deficit
Recently new economic data showed that Japan posted a record trade deficit of JPY 11.47 trillions during 2013. Exports in December rose at an annual rate of 15.3% below expectations of a 17.8% gains while imports climbed 24.7%, also below the consensus (26.1%).
At the moment of writing the USD/JPY is trading at daily highs at 102.30, up 0.02% for the day. Before Japan's opening and economic data it was at 102.05.
In the first minutes of trading the Nikkei 225 is losing more than 2.50%. Despite risk aversion in Asia, the Yen is moving to the downside across the board.
USD/JPY rises after record deficit
Recently new economic data showed that Japan posted a record trade deficit of JPY 11.47 trillions during 2013. Exports in December rose at an annual rate of 15.3% below expectations of a 17.8% gains while imports climbed 24.7%, also below the consensus (26.1%).
At the moment of writing the USD/JPY is trading at daily highs at 102.30, up 0.02% for the day. Before Japan's opening and economic data it was at 102.05.