Yen under pressure in anticipation of data on trade balance

This morning the yen declined against the dollar and the euro for the first time in four days against a background of expectations of a government report that may show growth in the trade deficit. The Japanese currency fell to five-week highs against the euro, with the technical indicators have long pointed to perekuplennost. Meanwhile, the euro is also under pressure because investors expect the European Central Bank reduce the rate and the announcement of the intention to pump in cash markets to stimulate economic growth. "The Japanese economy is in terrible condition, and the people are pessimistic," - noted analysts Westpac. "If the data show a further deterioration in the balance of trade, yen will be sold."