The Japanese yen climbed on Thursday against most of its top rivals after disappointing Chinese economic data about imports and exports spurred demand for the safe-haven monetary unit, according to Bloomberg.
The surprise news about underwhelming March 2014 data from China spurred the yen higher. As compared to the same period in 2013, exports fell 6.6 percent while imports dropped 11.3 percent, data released by the Chinese customs administration states. The trade surplus of the Asian nation fell $7.71 billion.
Japan's largest retailer, Aeon Co. Ltd., is forecasting all-time high profits for the fiscal year closing in February of next year, according to Reuters. The healthy forecast comes after the company endured pitched competition manifested by convenience stores, which tugged down last year's profits.
The firm also noted it intends to increase capital expenditures to 530 billion yen, representing an increase from 408.4 billion yen, according to Reuters.
The yen rose roughly 0.3 percent against the world's reserve currency and about 0.2 percent against the common currency of the European Union. The gains come one day after the yen dropped 0.6 percent against the 18-nation monetary unit on Wednesday.
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