Japan reported larger than expected currency account surplus - BBH

Research Team at BBH, notes that Japan did report a larger than expected February currency account surplus.

Key Quotes

“It rose to JPY2.435 trillion, the most since March 2015, from JPY520 bln in January. The consensus was for JPY2.032 trillion. To be clear, the driving force was not the trade component. The JPY425.2 bln trade surplus was actually a little smaller than the consensus expected. The investment income surplus was JPY2 trillion.”