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Japanese Yen Recovers From One-Month Low; JPYINR Holds In Positive Region

Published on Jan 12, 2024 15:29

Japanese yen gained some lost ground against the dollar on Friday after having hit a one-month low earlier in the week. Dollar retraced back yesterday�s gains that came on the back of higher than expected US inflation data that reduced possibility of Federal rate cut anytime soon. Currently USDJPY is trading at 145.13 after having hit a high of 145.73, highest level for the pair in a month hit during the week. The dollar index however holds above 102 mark. Meanwhile, Japan posted a current account surplus of 1.926 trillion yen in November, the Ministry of Finance said on Friday. Exports were down 4.5 percent on year to 8.623 trillion yen and imports slumped an annual 11.4 percent to 9.348 trillion yen for a deficit of 724.1 billion yen. The capital account saw a deficit of 30.0 billion yen, while the financial account posted a surplus of 1.087 trillion yen. On the NSE, JPYINR futures were quoting at 57.34, up marginally on the day.

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