Japanese March trade balance surplus increased, exports down again, imports up, though much less than expected.
By country/region, Japan exports to:
- US +4.4% y/y
- China -9.4% y/y
- Asia -5.5% y/y
- EU +7.3% y/y
Yen is barely moving, which for Japanese data releases is par for the course.
More generally, the Asia FX disease (low volatility/tiny movement) has spread to Europe/UK/US timezones. Sad.
