The Japanese yen declined on Thursday following the country’s trade deficit narrowed in June, as exports climbed but imports dropped.

Based on Finance Ministry data, trade deficit was at ¥69 billion ($556 million) last month. Exports rose 9.5%, while imports slid 2.9%.

The currency ended at ¥135.67 per euro and ¥124.09 per US dollar.

Last week, the Bank of Japan reduced its growth projection for the year through March 2016 to 1.7%, previously 2%.

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