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Japanese Yen Strong on Risk Aversion

June 18, 2018 at 12:44 by Vladimir Vyun

1,000 yenThe Japanese yen was relatively strong today due to risk aversion caused by the US-China trade war. Surprisingly poor domestic macroeconomic data had limited impact on the currency.

Japan’s trade balance turned from a surplus of ¥0.45 trillion in April to a deficit of ¥0.3 trillion in May. That was a total surprise to analysts, who were counting on an excess of ¥0.14 trillion.

Markets were nervous at the start of the week amid fears of trade wars as the United States announced new tariffs on Chinese imports, and China responded in a similar manner, putting new levies on US goods.

USD/JPY fell from 110.64 to 110.43 as of 12:37 GMT today. EUR/JPY was down from 128.19 to 127.81 intraday but managed to rebound to 128.30 by now.

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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