18th December 2013
The dollar has strengthened against the yen in forex trading markets today (December 18th) following the release of offical data relating to Japan's trade deficit.
Investors have been cautiously awaiting the conclusion of the US central bank's two-day meeting, during which policymakers have discussed reducing its monetary stimulus.
Recent data releases relating to the US economy have led to suggestions the Fed will cut its asset purchases before the end of 2013. It had previously been thought a taper would be delayed until the new year, especially as the bank's chairman Ben Bernanke leaves his post at the end of January 2014.
The yen has also traded lower after official data showed Japan's trade deficit widened to 1.29 trillion yen last month - 35 per cent higher year-on-year. This came as imports increased by 21.1 per cent, while exports rose by 18.4 per cent.
As of 11:35 GMT, the dollar was 0.25 per cent stronger versus the Japanese currency at 102.93 yen.
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