Japanese government raises view on economy for first time in ten months

Dhwani Mehta FXStreet

In its monthly assessment report, the Japanese Cabinet Office raised the overall economic view for the first time since July 2022 in May, noting that the economy is 'recovering moderately'.

Additional takeaways

Japan upgrades view on consumer spending for 1st time since July 2022, says it is 'picking up'.

Japan says exports showing 'solid movement', upgrading view for 1st time since Dec 2020.

Japan upgrades view on factory output for 1st time since Aug 2022, says showing 'signs of picking up'.

Market reaction

USD/JPY is holding steady, consolidating the retreat from six-month highs of 139.71. At the press time, the pair is trading at 139.51.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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