Yen stronger on US, China data

Yen stronger on US, China data

Story link: Yen stronger on US, China data

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The Japanese yen strengthened Tuesday as US equities markets declined and new data out of China showed fewer loans granted and less exports leaving China.

New figures revealed that China exports were down 23 percent in July from July of last year.

In mid-morning trade in New York, the yen traded at ¥135.6305 to the euro and at ¥95.945 to the US dollar, while it was at ¥158.2728 to the pound and was worth ¥64.0891 to the New Zealand dollar.

The Canadian dollar, meanwhile, dropped versus both the yen and the US dollar as investors looked for less risky deals ahead of Wednesday’s decision on US interest rates from the Federal Reserve, which is expected to hold rates steady again this month.

The loonie was worth ¥87.0249 and traded at C$1.0953 to the US currency, bringing its decline against the greenback to 2.7 percent in just over a week.

The euro’s declines came on lower consumer prices in Germany which made it look as if Eurozone interest rates will likely remain low for the time being.

The US dollar traded at $1.4136 to the shared currency at mid-morning in New York.