2014.04.2105:52:40UTC+00Yen plunges on Japan’s wide trade insufficiency

The Japanese yen plummeted against its 16 major counterparts following a report reflected Japan's trade deficit became wider more than expected last month.

The US dollar clung to its largest weekly advances in a month against the yen and the euro before the leading US economic indicators that may support speculation the Federal Reserve will take away stimulus this year. New Zealand’s dollar stayed lower prior to Reserve Bank's meeting on April 24. 

Currency volatility tumbled close to a seven-year low on April 17.

The yen dropped 0.2% to ¥102.61 per dollar as of 10:04 a.m. in Tokyo from April 18, when it finished a 0.8% weekly glide, the largest since the five days to March 21. Japan’s currency dived 0.2% to ¥141.69 per euro. The dollar dealt at $1.3808 per euro from $1.3813, after a 0.5% weekly advance.

Financial markets in the UK, Germany, Hong Kong, Australia, and New Zealand were shut for a holiday today. The US markets reopen after it was closed on April 18. 

Japan’s trade deficit increased to ¥1.45 trillion ($14.1 billion) in March, previously ¥802.5 billion last month, the Ministry of Finance said today. The deficit was at ¥2.8 trillion in January. 

The New Zealand dollar was slightly changed at 85.83 US cents. It slipped 1.2% last week, the most since the five days to January 31.