Forex Pros \u2013 The U.S. dollar edged higher against the yen on Tuesday, as exports from quake-hit Japanese exporters have slowed down, fanning concerns over a narrowing of Japan\u2019s trade surplus.<\/p>\n
USD\/JPY hit 81.78 during early European trade, the daily high; the pair subsequently consolidated at 81.69, easing up 0.02%.<\/p>\n
The pair was likely to find support at 80.86, last Friday\u2019s low and resistance at 82.04, the high of March 15.<\/p>\n
Japanese exports have slumped after the massive earthquake and tsunami in northern Japan on March 11 caused production slowdowns as parts supplies dried up. Meanwhile, importers look likely to step-up buying of materials for reconstruction, which could result in a narrower Japanese trade surplus.<\/p>\n
Japan\u2019s current-account surplus reduces the country\u2019s dependence on borrowing abroad and supports the yen.<\/p>\n
The yen was also down against the euro, with EUR\/JPY climbing 0.43% to hit 115.57.<\/p>\n
Also Tuesday, Tokyo Electric Power Company, the operator of the crippled Fukushima nuclear power plant, said plutonium was found at low-risk levels in five places at the facility, as pressure mounted on Japan\u2019s prime minister to widen the evacuation zone around the plant.<\/p>\n
Content provided by <\/strong><\/a><\/strong>ForexPros.com <\/a><\/strong><\/span> The U.S. dollar edged higher against the yen on Tuesday, as exports from quake-hit Japanese exporters have slowed down, fanning concerns over a narrowing of Japan\u2019s trade surplus.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-20385","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=20385"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20385\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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