XE Market Analysis: Europe – Sep 17, 2015

The yen has come under pressure amid a backdrop of firmer stock markets in Asia, which have followed Wall Street higher, while Japanese trade data showed an export rise of 3.1%, half the gain seen in July and prompting a downward trimming in Q2 GDP estimates. This followed yesterday’s S&P’s sovereign downgrade, though the move has had little impact in JGB and equity markets. The Nikkei 225 closed with a 1.3% gain, while China and most regional markets are also up.