NEW YORK (Forex News Now) – Japan’s export growth slowed more than forecast in October, data showed in an event that was watched closed by FX traders.
Exports increased just 7.8 percent from a year earlier, according to a report released by the Finance Ministry early Thursday.
The figure is well below the expectation of 10.2 reported by analysts at realtime forex news sites, and marks a slowdown in export growth after a 14.3 percent rise in September and a 15.5 percent rise in August.
According to analysts, the weak October result could be attributed to the yen’s strength and economic deceleration in the US and China, among other things.
The news did not have such a strong effect on currency market trading: at 7:00 A.M. GMT on Thursday USD/JPY was trading at 83.47, down 0.09% for the day.