Current Account n.s.a. (JPY) comes in at 2988.9B against 1001.2B consensus

Japan’s Current Account n.s.a. for September 2026 was reported at 2988.9B yen. This figure significantly surpassed the consensus expectation of 1001.2B yen, marking a 198.5% surprise against the forecast. The actual print also represents a substantial increase from the previous period’s reading of -92.3B yen.

Following the release, JPY pairs initially saw gains against the yen across the board in the first five minutes. USDJPY rose 12 pips, GBPJPY gained 11 pips, and EURJPY was up 9.5 pips. However, this initial reaction largely reversed by the 15-minute mark, with most JPY pairs trading lower against the yen. USDJPY was down 9.2 pips, GBPJPY fell 17 pips, and EURJPY declined 12 pips from its initial post-release level. The measured moves so far are generally within or below the typical median 1-hour moves observed after past Current Account releases, such as the median 9 pips for USDJPY and 11 pips for GBPJPY.