Japan METI (Ministry of Economy, Trade and Industry) official:
- Industrial production shows shipments falling for 5 straight months, which is similar to last time Japan entered recession
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Headlines via Reuters
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In reference to the data released earlier: Japan Industrial Production for June (preliminary): -3.3% m/m (vs. -1.2% expected)
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I would have though this might be a bearish input for the yen. USD/JPY not seeming to agree with me though.
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