Japanese Exports Decline for 11th Straight Month in August

Japan’s poor exports performance continued in August, with shipments falling for an 11th straight month as a strong yen and tepid global economy undercut demand.

The trade data came just hours before the results of a highly anticipated Bank of Japan policy meeting. Any signal to the market that the BOJ’s resolve to keep increasing stimulus is waning could cause the yen to strengthen, further undermining exporters. The yen has been one of the biggest gainers among major currencies this year, appreciating about 18 percent. The weakness in exports has also made businesses more hesitant to invest in domestic production.