Japan Machine Orders Gain, Backing BOJ Easing Pause

Japan’s machinery orders and current account surplus exceeded forecasts in July even as the yen appreciated, supporting the central bank’s decision to hold off from further monetary easing yesterday.

Orders rose 8.8 percent from June, the biggest gain this year, the Cabinet Office said in Tokyo today. July’s current-account surplus widened 26 percent from a year earlier to 1.676 trillion yen ($20 billion), a separate report showed.