Japan’s Cabinet Office maintains moderate view on economic recovery
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In its monthly economic report published early Tuesday, the Japanese Cabinet Office maintained the overview of the economy that it was on a moderate recovery.
“Japan raised its official assessment of imports for the first time in nine months.”
“Japan’s imports are generally staying flat, modifying a previous expression that they were weak.”
“Yen’s double-digit depreciation from a year earlier bumped up the value of imported goods.”
“The government recognized rising bankruptcies (previously said they were staying at low levels).”
“Maintained a warning against global financial volatility it added last month in response to Western bank collapses.”
Despite the upbeat report from Japan, USD/JPY is testing daily hghs near 134.35, courtesy of dovish remarks from Bank of Japan (BoJ) Governor Kazuo Ueda. The pair is up 0.09% on the day.
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