Japanese yen falls against dollar, shrugs off strong economic data

Japanese yen fell against dollar today despite strong Japanese data, as investors shifted from safe-haven assets such as gold, yen and Swiss franc.

The Japanese released today its reading for the trade balance during July, which showed a deficit by 0.13 trillion yen, better than forecasts of a deficit by 0.15 trillion yen.

While the markets are trying to price President Trump's remarks, in which he said that the US economy will continue to grow and ruled out a near recession.

While he called on the US Fed to cut rates at least by 1% with the possibility of preparing a quantitative easing program similar to the 2008 global financial crisis program.

By 19:46 GMT, USD/JPY rose by 0.2% to 106.6, with a high of 106.6 and a low of 106.2.