Yen stands still after current account data

On Thursday, the Japanese yen stands still following current account data, disclosing a somewhat narrower than expected surplus.   

The currency pair USD/JPY changed hands at 108.40, dropping 0.01%. Meanwhile, another currency pair AUD/USD was worth 0.7367, showing a 0.12% tumble.   

In Japan, for April the adjusted current account came in at a surplus of about ¥1.89 trillion, obviously less than the previous ¥1.90 trillion. By the way, in April foreign investments in Japan stocks dipped ¥434.6 billion, while bond purchases by foreigners hit ¥270.3 billion.   

Apart from that, in Australia, MI inflation expectations sank from 3.6% to 3.2%.

Then, the US dollar index, gauging the dollar’s value against six major currencies fell 0.01%, trading at 93.79.

Overnight, the evergreen buck stood broadly lower against other key currencies because market participants kept locking in profits from the dollar’s recent revenues, especially against the Japanese yen after Japan officially warned that it would intervene in the foreign exchange market.      


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