Yen soars in Asia
On Friday, the Japanese yen managed to earn during Asia trade because a major policy maker cautioned on recent currency moves and after mixed reports on the current account as well as wages with markets looking ahead to American nonfarm payrolls for direction on the greenback.
The currency pair USD/JPY traded at 100.71, down 0.08%. At the same time, AUD/USD grew 0.28%, hitting 0.7505. As for GBP/USD, this pair rebounded during Asia trade, soaring 0.29% at 1.2943.
Masatsugu Asakawa, Japan's top currency diplomat, told his country was ready to act on currency speculation. So, if there’re speculative moves in the FX market, Japan’s government will take adequate steps if required.
Earlier in Japan, May’s adjusted current account kicked in at a surplus of about ¥1.41 trillion, which is narrower than the surplus of ¥1.52 trillion previously observed, while the unadjusted current account surplus figure hit ¥1.809 trillion, which is wider than the expected ¥1.705 trillion surplus. Apart from that, June’s bank lending edged up 32%, below the revenue of 2.2% observed in May.