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Japan ran a current account deficit

Japan ran a current account deficit | 09 August 2022

09 August 2022, USD/JPY

Japan ran a current account deficit

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Japan ran a current account deficit for the first time in five months in June as surging imports eclipsed exports, data showed, highlighting the pressure that higher energy and raw material prices are putting on the economy. The world's third-largest economy ran a current account deficit of 132.4 billion yen in June, government data showed, reversing 872 billion yen from the same month a year earlier. High prices for energy sources like oil and coal drove the value of imports to a record, surging 49% year-on-year and outpacing a 20% rise in the value of exports led by "mineral fuels" and steel.

Investment idea: buy 134.66 and take profit 135.30.

David Johnson
Analyst of «FreshForex» company
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