Dollar climbs against yen on weak Japan trade data

Source:Xinhua Published: 2014-4-22 9:51:22

The US dollar advanced against most major currencies including the yen Monday after data showed Japan's trade deficit widened in March.

The dollar rose to a two-week high against the yen on Monday as Japan's trade deficit stood at 1.446 trillion yen (about 14.14 billion US dollars) in March, marking a record running deficits of 21 months.

Moreover, data showed Japan's exports rose 1.8 percent in March from a year earlier, lower than the general forecast of 6 percent.

However, analysts say yen's losses may be limited on renewed tension in Ukraine. At least three people were killed early Sunday during a clash between gunmen and pro-Russia protesters in the eastern Ukrainian town of Slavyansk.

US economic data released Monday also provided support for the dollar. The Leading Economic Index (LEI) for the US increased 0.8 percent in March to 100.9, following a 0.5 percent increase in February and a 0.2 percent increase in January, said the Conference Board in a report.

In late New York trading, the euro dropped to 1.3796 dollars from 1.3819 dollars of the previous session, and the British pound increased to 1.6800 dollars from 1.6797 dollars. The Australian dollar rose to 0.9331 dollar from 0.9328 dollar.

The dollar bought 102.63 Japanese yen, higher than 102.42 yen of the previous session. The greenback moved up to 0.8848 Swiss franc from 0.8828 Swiss franc, and went up to 1.1017 Canadian dollars from 1.1010 in the previous session.

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