The yen rose against the dollar during Wednesday’s Asian session Japan’s January trade deficit soared thanks to increased energy imports and the weaker currency.
In Asian trading Wednesday, USD/JPY fell 0.09% to 93.49. The pair was likely to find support at 92.23, Friday's low, and resistance at 94.22, Monday's high.
In a report released by Japan’s Finance Ministry earlier today, the country’s trade deficit jumped JPY1.63 trillion last month. In January, Japanese exports rose 6.4%, but imports increased 7.3%. The report arguably shows a down side to the weaker yen Prime Minister Shinzo Abe has so stridently pushed for. Continue Reading....
By Investing.com
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