USD/JPY appreciates after registering modest losses in the previous day, trading around 158.50 during the Asian hours on Thursday. The currency pair gains ground as the Japanese Yen (JPY) struggles under the weight of wide interest rate differentials, mounting fiscal concerns, and elevated costs for energy and imported goods.
Japan’s Merchandise Trade Balance Total showed the trade deficit widened sharply to JPY 634.5 billion in July from JPY 409.9 billion the prior month. Although the figure came in below the market forecast of a JPY 680.0 billion deficit, it marks the third consecutive month in the red and the largest deficit recorded since…
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