USD/JPY flows: Back to trade surplus

The February Japan trade beats estimate with export at 4.2% y/y and import at 10.2% y/y. Export to Europe grows, so as Asia, while exports to China and U.S. shrinks. It is generally positive for Japanese economic growth but hard to read into only one month of data.

USD/JPY is trading 0.03% higher at 159.02.