Japanese yen drops 0.5% after weak March trade report, raising economic concerns.
Japanese Yen Falls Sharply Following Disappointing Trade Growth
The Japanese Yen falls in value due to trade data according to a report from Scotiabank.
The yen lost value due to the trade data in March.
On Thursday the value of the yen fell by 0.5% compared to the U.S dollar, making it the weakest performer among G10 currencies for that day. This decline occurred after disappointing trade data for March was made public. Although the overall trade balance was slightly better than anticipated there was growth in both exports and imports prompting worries about Japans economic progress.
The yen moved in line with the franc. Another currency that traders often turn to in times of market uncertainty. Ranking lower on performance charts recently. This pairing illustrates traders ongoing sensitivity to changes in trade dynamics those affecting Asia.
The current trade talks between the United States and Japan have not specifically touched upon currency policy yet. Any new information coming from these discussions could influence the direction of yen movements in the future. The dialogue is anticipated to resume before the end of the month.
