Japan reports smaller-than-forecast current account surplus

NEW YORK (Forex News Now) – Japan recorded a healthy current account surplus in October, although slightly lower than expected, data showed on Wednesday in one of the day’s major realtime forex news events.

In a report likely to impact currency market trading, the Ministry of Finance said that the difference in value between imported and exported goods, services, income flows and unilateral transfers in October was 1.46 trillion yen, down from a figure of 1.66 trillion yen the previous month.

Analysts had expected October’s figure to come in at 1.55 trillion, at least two major online FX trading news outlets reported.

According to economists, the shrink in the surplus can be attributed mainly to the deceleration in growth in the income and trade accounts.