Yen Continues Slides against USD trading at 90.50 level
Japan really feeling a huge trade Deficit of 641.5 billion yen in December. The Ministry of Finance said on Thursday. That missed forecasts for a shortfall of 522.8 billion yen following the down trend revised deficit of 954.8 billion yen in November. Exports were down 5.8 percent on year - also missing forecasts for a contraction of 4.2 percent and accelerating from the 4.1 percent fall in the previous month. Imports were up an annual 1.9 percent versus expectations for an increase of 1.7 percent after rising an upwardly revised 0.9 percent a month earlier.
It's hugely affect on USDJPY trade. JPY now trading at weekly low range of 90.50 against it's major counter part USD.
