# Japan current account surplus shrinks sharply as weak yen, trade deficits bite | Reuters

> Japan's current account surplus shrank sharply as the weak yen raised the cost of imports, including commodities and oil that were already elevated by the Ukraine war. The trade deficit added pressure on the overall current and trade accounts.

- Date: 2023-02-08 · published 2023-02-08T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/37561-japan-current-account-surplus-shrinks-sharply-as-weak-yen-trade-deficits-bite
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weak yen raises Japan's cost of imported feed and energy, which can reduce purchasing power for grain and meal. This is a modest factor for global feed demand.

## Read by commodity

- WTI: neutral
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-07-28 | [Canadian dollar hits 2-week low as rate hikes ‘begin to bite’](https://feedsoft.ai/events/35272-canadian-dollar-hits-2-week-low-as-rate-hikes-begin-to-bite.md) | +1.8% | -1.0% |
| WTI | 2026-06-26 | [US diesel refining economics remain firm despite Iran war truce \| Reuters](https://feedsoft.ai/events/19002-us-diesel-refining-economics-remain-firm-despite-iran-war-truce-reuters.md) | -4.2% | +28.1% |
| WTI | 2020-07-27 | [Dollar’s weakness boosts rally in commodities and currencies - Gulf Times](https://feedsoft.ai/events/5318-dollar-s-weakness-boosts-rally-in-commodities-and-currencies-gulf-times.md) | -2.7% | +2.6% |
| WTI | 2026-04-01 | [How Japan Can Use the Oil Market to Support the Yen](https://feedsoft.ai/events/20404-how-japan-can-use-the-oil-market-to-support-the-yen.md) | -6.6% | +6.7% |
| WTI | 2025-07-07 | [Oil prices up; strong demand outweighs surprisingly big OPEC+ output hike \| Reuters](https://feedsoft.ai/events/23929-oil-prices-up-strong-demand-outweighs-surprisingly-big-opec-output-hike-reuters.md) | +2.4% | +0.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/japan-current-account-surplus-shrinks-sharply-trade-deficits-bite-2023-02-08/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.