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USD/JPY slips as yen gives back early gains in Europe

FXStreet says the pair was up 0.13% near 158.23, while Japan’s August current account surplus rose to 4,062 billion yen versus 3,194 billion yen expected.

Reported · Written up by our desk · Major Pairs

The Japanese yen gave back early gains and moved slightly lower against the U.S. dollar in early European trading, leaving USD/JPY up 0.13% at around 158.23, according to FXStreet.

FXStreet attributes the softer tone to yen weakness elsewhere against major currencies as the Asia-Pacific session extended, with Japan’s August current account data also coming in stronger than expected.

The outlet reports Japan’s current account surplus increased to 4,062 billion yen in August, beating the 3,194 billion yen estimate and up from 2,988 billion in the prior release.

FXStreet also notes that Japan Prime Minister Sanae Takaichi pushed back hopes for a reflationary policy, describing it as a mix of fiscal and monetary measures, as the currency move unfolded.

Latest closeUSD/JPY 157.94 ▲0.1%

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