Today was published the data on GDP growth in Japan, which showed an unexpected rise of 0.6% in the 1st quarter of this year compared to the forecast of increase by 0.4%. Investor optimism remains moderate due to doubts about the stability of growth. Consumption of non-governmental sector for the period rose by 0.4% for the quarter. External demand has weakened and has led to a reduction in GDP growth of 0.2%. Internal demand added 0.8% to GDP. Improved data on GDP growth indicates the possibility of further stimulus from the government and the Bank of Japan. Our medium-term outlook for the Japanese yen remains negative due to the loose monetary policy of the Bank of Japan and its tightening in the United States.