Japan posts a surprisingly large 8.1% Y/Y drop in exports (expectations were for a 2.9% fall),...

|By:, SA News Editor

Japan posts a surprisingly large 8.1% Y/Y drop in exports (expectations were for a 2.9% fall), swinging its trade balance to a $6.5B deficit. Exports to the EU plunged 25.1%, to China down 11.9%. The yen briefly dropped on the news, but has since recovered to little changed vs. the greenback.