The Japanese yen slipped today as the nation’s trade deficit widened last month, giving incentive for the central bank to further ease monetary policy that is already extremely accommodative.
Japan’s trade balance posted a deficit of ¥1.09 trillion in September, up from ¥0.82 trillion in August. It was bigger than analysts have expected. The Bank of Japan was refraining from adding monetary stimulus for some time, but the latest data may cause the central bank to consider additional monetary easing.
USD/JPY ticked up from 97.84 to 98.07 and EUR/JPY rose from 133.90 to 134.14 as of 11:00 GMT today.
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