Weak Yen Fails to Boost Japan's Trade Balance as Oil Imports Bite

Japan's trade deficit widened in June due to higher oil import prices, marking the second consecutive month of red ink.

The country recorded a trade deficit in June, with the value of imports exceeding exports by ¥1.13 trillion ($8.6 billion).

This is despite a weak yen, which typically boosts exports and improves the trade balance. However, the higher price of oil imports contributed to the widening deficit.