The Japanese currency firmed up across the board on Wednesday morning in Asia. The yen advanced to a 2-day high of 131.11 against the euro by 9:15 pm ET. The Japanese currency also drifted higher to 97.53 versus the greenback, 86.22 against the franc, 142.89 versus the pound, 67.73 against the Australian dollar, 54.64 against the NZ dollar and 79.2 against the Canadian dollar by this time.

In economic news, Japan posted a merchandise trade balance of 82.4 billion yen in February, the Ministry of Finance said today, following a 956.9 billion yen shortfall in January. Exports plummeted by a record 49.9 percent on year, while imports fell 43.0 percent on year.

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