The Japanese currency strengthened against 16 other currencies on speculation Japanese exporters took home profits from abroad before the fiscal year ending this month. The Australian dollar weakened after data showed the company added fewer workers than economists forecast. Strong inflation data should add to the pressure for tightening in China, said Minoru Shioiri, chief forex trading at Mitsubishi UFJ Securities Co.. in Tokyo.
Bias for the yen to strengthen. The yen rose to 123.29 per euro in Tokyo from 123.62 in New York yesterday. The Japanese currency rose to 90.35 dollars from 90.52. The greenback traded at $ 1.3645 per euro from $ 1.3657. China's consumer prices rose 2.7% from a year earlier in February and up 10.3% of purchase price, according to the statistics bureau in Beijing today.
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