Japan's current account surplus shrinks in June, misses expectations

Japan posted a smaller than expected current account surplus in June, official data showed Friday.

According to preliminary figures released by the Ministry of Finance, Japan's current account surplus reduced by 24% to JPY1.348 trillion in June, down from JPY1.764 trillion during the same month a year earlier.

A reading of JPY1.480 trillion was expected based on the consensus forecast cited by FXStreet.

Exports fell 2.4% year-on-year in June, while imports reduced by 1.3%.

The latest reading also represented a 61% decline from a surplus of JPY3.436 trillion in May.