Japan – July exports +10.3% y/y (expected +11.4%) & imports +16.6% y/y (expected +14.9%)

While exports did not jump by as much as expected they grew much faster than in June.

Imports beat.

Exports to:

• China +7.2% y/y
• the EU -5.3% y/y
• the US +7.3% y/y

USD/JPY dropped to under 145.00 earlier and is sitting around 145.27 in Tokyo morning trade.

This article was written by Eamonn Sheridan at www.forexlive.com.