We had some trade data from Japan with both exports and imports higher on the month, imports notably so:Japan April Exports +8.3% y/y (expected +11.1%) Imports +8.3% (expected +9.0%)And also machinery orders, better than expected in a welcome development (although this is a noisy data set):Japan March Machinery Orders +2.9% m/m (expected -2.1%)USD/JPY is not doing a lot. Which is not surprising. Its being shoved around on developments impacting the outlook for both Federal Reserve and Bank of Japan policy (Fed rates down ... maybe eventually, and BOJ rates up .... also maybe eventually). This article was written by Eamonn Sheridan at www.forexlive.com.
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