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Japan retail sales pull back further in June
Japanese retail sales fell 0.6% in June compared to the year-earlier period, the Ministry of Economy, Trade and Industry reported Tuesday. The result showed an acceleration from May's 0.4% decline, though it remained well shy of the 4.3% tumble seen in April, when Japan enacted a hike to its nationwide consumption tax. Among large-scale retailers, sales were down 1.8% after falling an annualized 1.2% in May and 6.7% in April. The yen kept its poker face on in reaction to the data, as the dollar USDJPY -0.02% held steady at ¥101.84. Likewise, Nikkei Average JP:NIK +0.46% index futures showed only a slight trimming of ... (full story)