USD/JPY gains on strengthening US Dollar – BBH

USD/JPY firmed up on USD strength, BBH FX analysts report.

Japan’s record current account surplus boosts JPY

“Japan’s current account surplus widened to ¥2,317bn from ¥1947bn in January to total a record ¥29.1tn in the twelve months to February (4.7% of GDP). Japan’s balance of payments backdrop is JPY supportive especially during periods of heightened risk aversion.”