More on Japan export data, those to the US are up, to China down

Japanese March trade balance surplus increased, exports down again, imports up, though much less than expected.

By country/region, Japan exports to:

• US +4.4% y/y
• China -9.4% y/y
• Asia -5.5% y/y
• EU +7.3% y/y

Yen is barely moving, which for Japanese data releases is par for the course.

More generally, the Asia FX disease (low volatility/tiny movement) has spread to Europe/UK/US timezones. Sad.