Okasan Securities: Asia-Pacific countries outrun Japan in economic growth.

Yen gets under pressure as the countries of Asia-Pacific region outrun Japanese economy in economic growth. Today China released data showing that its exports in February became 45.7% higher than in the previous year, while they forecasted only 38.3% rise.

Analysts from Okasan Securities Co. Ltd. in Tokyo believes that, as Asia-Pacific countries are recovering quirkier, their currencies would be bought versus yen.

As a result, yen hit two-week minimum against New Zealand’s dollar declining from 63.24 yesterday in New York to 63.58 per New Zealand dollar in Tokyo and traded low versus Australian dollar falling from 82.24 to 82.39 per Australian dollar.

Japan’s currency also contracted from 89.97 to 90.01 per US dollar and slightly changed to 122.39 per euro.

Chart. H1 USD/JPY

Market news and analytics — FBS