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JPY Daily News
Yen Bullish Day on Strong Export Numbers
Wednesday, 22 Apr 2009
The Japanese currency rose against 15 out of 16 most-traded currencies after Japan's Ministry of Finance said custom-cleared exports declined 45.6% in March from a year earlier, following a record drop of 49.4% in February. The trade balance data seem to suggest that Japan's economic slump may also ease somewhat in the last quarter.
The Yen climbed against the Dollar and the EUR after a government report showed exports fell at a slower pace; spurring speculation the worst of the nation's recession may be over. The JPY climbed to 98.29 per USD from 98.73 yesterday. Against the EUR, Japan's currency advanced to 127.09 from 127.81.
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