Wednesday, February 20, 2013

Japan trade deficit hits record as yen weakens


Japan's monthly trade deficit hit a record in January after its recent aggressive monetary policy stance weakened its currency sharply.
Exports rose in January, the first jump in eight months, as its goods became more affordable to foreign buyers.
However, a weak currency also pushed up its import bill resulting in a monthly trade deficit of 1.6tn yen ($17.1bn; £11.1bn), a 10% jump from a year ago.