Yen declines after NKorea missile test

Yen declines after NKorea missile test

On Wednesday, the Japanese yen traded modernly weaker in Asia, as a medium-range ballistic missile test by North Korea ahead of an upcoming summit between American President Donald Trump as well as Chinese President Xi Jinping rattled nerves. Additionally, financial markets looked ahead to American jobs data to set the overall tone.

The currency pair USD/JPY hit 110.78, adding 0.03%, AUD/USD reached 0.7571, inching up 0.08%.

The US dollar index, measuring the US dollar’s strength against a basket of six crucial rivals, slid 0.04%, getting to 100.38.

Overnight, the greenback traded higher against a basket of key currencies, following the publication of positive American trade data, while traders shifted focus to the Trump-Xi gathering.

In America, on Tuesday, the Commerce Department told that the trade deficit tumbled by 9.6% to $43.6 billion. As for January's trade deficit, it was revised from $48.5 billion down to $48.2 billion.

 

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