Dollar rises against yen after better-than-expected trade data

The yen weakened against the dollar and other rivals in Asia trade Wednesday, with better-than-expected China trade data and the Asian stock markets’ stability prompting selling of the Japanese currency, considered a safe haven.

The dollar USDJPY, +0.41%  was changing hands at ¥118.24, higher than ¥117.76 late Tuesday in New York.

Amid improvement in the market mood, the benchmark Nikkei Stock Average NIK, +2.88%  was up 2.8% after each of six sessions since the beginning of the year recorded a loss. The Shanghai Composite Index SHCOMP, -2.42%  was lasted down 1.3%.

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