Dollar edges up as Japan reports trade deficits

TOKYO: The dollar firmed slightly in Asian trade Wednesday as the yen slipped on official data showing Japan saw an annual trade deficit for the first time in more than 30 years.

But the greenback's upside was limited as many exporters were still selling the US unit.

The dollar stood at 77.79 yen in mid-morning trade in Tokyo, edging up from 77.71 yen in New York Tuesday.

The euro was at $1.3024 and 101.31 yen, from $1.3030 and 101.25 yen in New York.

Importers and foreign investors sold the yen after Japan said, as expected, it had logged a calendar-year deficit in goods of 2.49 trillion yen ($32 billion) in 2011, its first since 1980. (AFP)