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USD/JPY Forecast: Japan Trade Deficit Widens, Eyes on June BoJ Moves
On Wednesday (May 22), the Reuters Tankan Index and trade data from Japan put the USD/JPY in focus. The Reuters Tankan Index remained unchanged at a value of 9 in May. Economists forecast a decline to 7. The Index avoided the negative territory, suggesting business sentiment toward the economy remained upbeat. In April, the trade deficit unexpectedly widened from ¥366.5 billion to ¥462.5 billion. Economists forecast a trade deficit of ¥339.5 billion. According to the Ministry of Finance, Exports advanced by 8.3% year-on-year in April, up from 7.3% in March. Furthermore, imports increased 8.3% year-on-year in April ... (full story)