Yen moves down on China trade data

Yen moves down on China trade data

On Thursday, the Japanese yen went down in Asia notwithstanding solid trade figures from China, although weaker GDP for the first quarter in Tokyo and upcoming China and Australia trade data drove market risk. Moreover, market participants also watched closely the British general election, testimony by sacked FBI director James Comey to Congress and an ECB policy review.

China posted a trade data surplus of $40.81 billion, which is narrower than the expected $46.32 billion, although wider than the $38.05 billion observed the previous month with exports soaring 8.7%, which is more than the 7.0% revenue observed and imports rising 14.8%, surpassing the 8.5% profit observed year-on-year.

Previously, Japan GDP for the first quarter led a bunch of data, with weaker-than-expected quarter-on-quarter figures, demonstrating a 0.3% revenue, compared to 0.6% observed as well as the annual tempo at 1.0% compared with the expected 2.4%.

The common currency sank to $1.1204, sliding 0.64% versus the greenback.

 

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