10 Apr 2014
JPY stronger after Chinese data - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, sees a more solid Japanese yen post-Chinese data.
Key Quotes
"The yen has also strengthened following the release of the weaker than expected Chinese trade report for March. The report revealed that both exports and imports contracted by annual rates of -6.6% and -11.3% respectively in March."
"Chinese Premier Li also stated overnight that China “won’t adopt short-term and strong stimulus policies in response to temporary fluctuations in the economy”. However, he remains confident that China can “maintain GDP growth in a reasonable range” although can “accept lower growth with adequate employment”."
Key Quotes
"The yen has also strengthened following the release of the weaker than expected Chinese trade report for March. The report revealed that both exports and imports contracted by annual rates of -6.6% and -11.3% respectively in March."
"Chinese Premier Li also stated overnight that China “won’t adopt short-term and strong stimulus policies in response to temporary fluctuations in the economy”. However, he remains confident that China can “maintain GDP growth in a reasonable range” although can “accept lower growth with adequate employment”."