Forex: USD/JPY Higher On Japanese Economic Data

on Jun 19, 2013
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USD/JPY started today’s Asian session higher than in the past four days at 95.57 which is also the quote’s session high to this point. Following Japanese economic updates released minutes after midnight, the pair started a downtrend and is currently trading around 95.11.

Today at 00:50 BST the Japanese Merchandise Trade Balance Total for May was released by the country’s Ministry of Finance. The report registered a trade deficit of ¥993.916 billion in May following the downwardly revised deficit of ¥881.9 billion in the prior month. Another official report showed that Japan’s exports for May y/y surged 10.1 percent versus a 3.8 percent rise over the prior period. Meanwhile the annualized imports climbed 10.0 percent missing expectations for an 11.8 percent rise after a revised 9.5 percent in April.

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Yesterday the quote registered a daily high at 95.75 and daily low at 94.52 following the latest US economic updates in the midday New York session. US consumer price inflation rose 1.4 percent in May, up from 1.1 percent in the prior month and annualized CPI – Core (excluding food and energy) remained unchanged at 1.7 percent, in line with analysts’ expectations.

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