In its May economic assessment report, the Japanese government kept its overall view of the economy unchanged amid signs of economic optimism.

Key takeaways

"The economy is showing signs of picking up.”

On imports, the government said they were showing weakness.”

“Japan raised its view on employment conditions after the jobless rate edged down to a near two-year low of 2.6% in March.”

“They also raised their assessment of housing investment, saying it was largely flat due to an improvement in apartment construction.”

Market reaction

USD/JPY remains unfazed by the above upbeat report, as it adds 0.09% on the day to trade at 126.91, as of writing.

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