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USD/JPY Forecast: Japan Trade Deficit Creates More BoJ Pivot Uncertainty
On Wednesday, the Reuters Tankan Index and trade data from Japan drew investor interest. The Reuters Tankan Index unexpectedly declined from +6 points to -1 point in February. Economists forecast an increase to +7 points. However, trade data for January had more impact after the recent Q4 numbers signaled a technical recession. The trade balance fell from a ¥62.1 billion surplus to a ¥1,758.3 billion deficit. Economists forecast a trade deficit of ¥1,925.9 billion. According to figures released by the Ministry of Finance, Exports increased by 11.9% year-over-year after rising by 9.8% in December. Exports to China ... (full story)
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