Japan's trade deficit totaled 0.64 trillion yen in February against the expected increase to 1.21 trillion. It is worth recalling that in the previous period, the deficit was 0.41 trillion yen. The trade deficit in the country was maintained for 32 consecutive months. It should be noted that exports showed an increase for the sixth consecutive month in February and increased by 2.4%. At the same time, imports fell by 3.6%. The reasons for this tendency were the weakening of the yen and falling prices for imported oil. Today is expected the increase of the volatility of the price of the Japanese yen against the US dollar in relation to the publication of the Fed's monetary policy. We maintain our medium-term negative outlook on the Japanese yen due to the tightening of monetary policy in the United States.