In its May report, the Japanese government cut its economic vision for the first time in three months in the face of the impact of the state of emergency of COVID-19.
Outstanding conclusions:
“The economy shows greater weakness in some parts, although it continued to recover amid severe conditions due to the coronavirus. “
“The government cut its assessment of the overall economy for the second time this year, after doing it also in February, which was his first downgrade in 10 months. “
“The executive he also lowered his opinion on the commercial conditionsas a rebound showed signs of stagnation. “
“Exports continued to grow moderately, while production and capital spending recovered, all unchanged from the previous month.”
Market reaction
The USD/JPY it is bouncing in sync with the US dollar as it appears to rebound at 109.00. The pair was last seen changing hands at 108.92, gaining 0.13% on the day.
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