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10 Feb 2014
USD/JPY remains in bearish territory on trade deficit
FXStreet (London) - USD/JPY remains in bearish territory after Japan posted a record current account deficit overnight.
Deficit widens
Data released by the Ministry of Finance showed that Japan’s seasonally-adjusted current account deficit for December widened to JPY638.6bn from JPY592.8bn in November.
Consumer confidence at 13-month low
The Japanese outlook was given a further knock by a 13-month low in Japanese consumer confidence. Japan's consumer confidence index fell 0.8 points to a seasonally-adjusted 40.5 in January, following a 1.3-point decline to 41.3 in December.
USD/JPY is currently trading at JPY102.1650, down 0.34 percent after an overnight high of JPY102.6360.
Deficit widens
Data released by the Ministry of Finance showed that Japan’s seasonally-adjusted current account deficit for December widened to JPY638.6bn from JPY592.8bn in November.
Consumer confidence at 13-month low
The Japanese outlook was given a further knock by a 13-month low in Japanese consumer confidence. Japan's consumer confidence index fell 0.8 points to a seasonally-adjusted 40.5 in January, following a 1.3-point decline to 41.3 in December.
USD/JPY is currently trading at JPY102.1650, down 0.34 percent after an overnight high of JPY102.6360.