Japanese yen kept inclining against dollar and major currencies with the end of Wednesday`s session in a corrective trend which is expected to last during the upcoming period amid expectations that BOJ may fail to rise inflation rates.
Japanese yen returned to notice a slight decline against dollar with the beginning of the session and after the recent Japanese data that reflected the widened deficit in its merchandise trade balance, where investors began to avoid heavy moves and evaluate the nation`s economy.
USD/JPY pair traded near 88.50 after hitting its lowest yesterday at 88.05, while EUR/JPY pair currently traded near 117.72 after recording low of 117.04.
From another side, the International Monetary Fund declared new estimates for global growth during 2013 amid the recent extended crisis over Europe`s debts, where the IMF estimates 3.5% for the year after 3.6%.
Despite IMF underestimates for global growth, European currencies did not affected heavily as markets are expecting the worse, where euro kept trading in narrow ranges against dollar near 1.3300, while Australian dollar declined against dollar to reach 1.5819.