Yen Off Early Highs Against Majors

Yen Off Early Highs Against Majors




The yen that strengthened against other major currencies in early Asian deals on Monday in response to Japan's better-than-expected current account data erased some of its gains shortly.
The yen thus eased from near a 4-week high against the pound, 2-month high against the Australian dollar and fresh 1-month highs against the Canadian dollar, euro, New Zealand dollar, franc and the US dollar.
Japan posted a current account surplus of 1.177 trillion yen in February, the Ministry of Finance said - down 30.7 percent on year. The headline figure beat forecasts for a surplus of 1.120 trillion yen after posting a shortfall of 437.3 billion yen in January. Analysts had expected a contraction of 34.1 percent on year following the 180 percent plunge a month earlier.
The yen is currently worth 81.53 against the US dollar, 106.48 per euro, 129.35 against the pound, 88.64 against the franc, 81.85 against the loonie, 83.90 against the aussie and 66.64 against the kiwi.


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