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Japan industry performance beats estimates, yen remains slightly changed

Japan March industrial production jumped, beating estimates, according to the final data released by the Ministry of Economy, Trade and Industry showed on Tuesday. Industrial production expanded 3.8 pct in March, compared to an initial estimate of 3.6 pct, data showed.

Likewise, growth in shipment was revised to 1.8 pct from 1.4 pct and that for stock was raised to 2.9 pct from 2.8 pct. Year-on-year, industrial production climbed 0.2 pct compared to a 0.1 pct rise previously reported. The capacity utilization advanced 3.2 pct on a monthly basis, reversing a 5.4 pcnt drop in February.

However, the yen remained little changed against its major trading currencies after the release.

At 5:59AM GMT, EUR/JPY was up 0.02 pct at 123.45, while GBP/JPY was 0.73 pct up at 158.15, JPY/CHF was slightly up 0.14 pct at 111.66, while JPY/USD rose 0.16 pct to 109.19.

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