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Japan seen posting 29th straight monthly current account surplus in November

Reuters

TOKYO (Reuters) - Japan is expected to show a 29th straight current account surplus in November as exports recovered and on income from overseas investment, a Reuters poll showed on Friday.

The current surplus was seen at around 1.5 trillion yen ($12.94 billion) in November after a 1.7 trillion yen surplus in October, the poll of 17 analysts found.

"Overseas economies are recovering which helps Japan's exports," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Insurance.

"Also, the weak yen inflates income from investment overseas...so the current account surplus will likely stay at solid level for the moment."

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The yen has weakened sharply against the dollar since November on expectations the incoming Trump Administration's policies would encourage inflation, which would in turn prompt the U.S. Federal Reserve to raise interest rates.

The yen stood around 116 yen vs dollar <JPY=EBS> on Friday after touching 118.66 yen in mid-December, its weakest since last February.

The finance ministry will publish the current account data at 8:50 a.m. on Thursday Jan. 12. (23:50 GMT Wednesday)

(Reporting by Kaori Kaneko; Editing by Eric Meijer)

 
 
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