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Japan rebounds to current-account surplus as yen extends slide
Japan rebounded to a current-account surplus in February, as a depreciating yen boosts the outlook for a revival in the world’s third-biggest economy. The surplus, the first in four months, was 637.4 billion yen ($6.5 billion), the Ministry of Finance said in Tokyo today. That exceeded the 457.5 billion median estimate of 24 economists surveyed by Bloomberg News. The Japanese currency fell today to the lowest level since May 2009 after Bank of Japan (8301) Governor Haruhiko Kuroda last week unleashed unprecedented monetary stimulus. The weaker currency helps exporters and boosts the value of repatriated earnings, ... (full story)