Asian Session – Yen weakens after Japan’s trade deficit widens
October 21, 2013 5:58 am
The yen weakened in early Monday trading after data showed that Japan’s trade deficit widened more than expected as a result of weak exports.
The Japanese economy has not made a turnaround in the past 15 months, prompting the Bank of Japan Governor Haruhiko Kuroda to reiterate that the central bank will continue easing until the bank’s 2% target inflation rate is reached.
The yen fell 0.16% against the dollar in the Asian session, trading at 98.01 per dollar. Against the euro, the yen eased 0.1 percent to end the Asian session at 134.05 per euro.
The US dollar appears to have stabilized after a lot of volatility in the previous week as a result of the US debt drama. The greenback remains near an 8-month low against a basket of major currencies as the focus turns to the much anticipated US nonfarm payrolls on Tuesday.
The euro eased slightly against the dollar, ending 0.04% lower at $1.3677. On Friday the euro hit a 8-month high of $1.3703.
Sterling was hardly changed against the dollar, ending the session flat at $1.6169. Focus turns to UK GDP data due on Friday.
Aussie broke a new 4-month high to reach $0.9678, up 0.04% since the Asian open.
The yen weakened in early Monday trading after data showed that Japan’s trade deficit widened more than expected as a result of weak exports.
The Japanese economy has not made a turnaround in the past 15 months, prompting the Bank of Japan Governor Haruhiko Kuroda to reiterate that the central bank will continue easing until the bank’s 2% target inflation rate is reached.
The yen fell 0.16% against the dollar in the Asian session, trading at 98.01 per dollar. Against the euro, the yen eased 0.1 percent to end the Asian session at 134.05 per euro.
The US dollar appears to have stabilized after a lot of volatility in the previous week as a result of the US debt drama. The greenback remains near an 8-month low against a basket of major currencies as the focus turns to the much anticipated US nonfarm payrolls on Tuesday.
The euro eased slightly against the dollar, ending 0.04% lower at $1.3677. On Friday the euro hit a 8-month high of $1.3703.
Sterling was hardly changed against the dollar, ending the session flat at $1.6169. Focus turns to UK GDP data due on Friday.
Aussie broke a new 4-month high to reach $0.9678, up 0.04% since the Asian open.
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