While exports did not jump by as much as expected they grew much faster than in June.
- helped by a weak yen and a pickup in the auto sector
- and encouraging sign of sustained economic recovery
- offset though by shipment volumes falling 5.2% y/y, the sixth consecutive month of declines
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.
