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On Friday, post Non-farm Yen has been the top performer, only second to Euro, however several weaker than expected releases today have soured the mood for Yen, which stands as the worst performer so far today.
Yen is down -0.40% against Dollar so far today.
Japanese trade balance along with consumer confidence has disappointed to downside.
- The current account surplus came in at ¥ 558.6 billion in June, down from a surplus of ¥ 1.88 trillion in May, and below economists' expectations of ¥ 785.9 billion. On an adjusted basis, the surplus slipped to ¥ 1.3 trillion in June from ¥1.64 trillion in May, and below expectations of ¥ 1.4 trillion.
On the domestic front, Japanese consumers were less optimistic in July as the index slipped to 40.3 from 41.7 in June and against 42.2 expected.
Yen lost grounds and likely to lose further, since Yen is trading with considerable slack in the economy.
Yen is likely to weaken past 125 and might reach as high as 127 against Dollar.
