The Japanese yen fell to a four-year low against the dollar - with a buck buying more than 100 yen. That sent the Nikkei to its highest level since 2008. Exporters are poised to reap the benefits of a weaker currency.
The world's third-largest economy has slid into reverse for the first time in two years as a result of sluggish consumption and seasonal factors. But experts said it was not the beginning of a longer downswing.
Japan's government has nominated Haruhiko Kuroda for a second term as central bank governor, giving the veteran finance chief more time to battle deflation and kick-start the world's third largest economy.
Japan has said it started the year with a trade deficit as imports of fossil fuel overwhelmed the revenue from outbound shipments from the Asian nation. The negative figure came after a long period of surpluses.
The planned US tariffs on steel and aluminum have not gone down well with the United States' trading partners. With trade tensions intensifying, will we also see a currency war to make things even worse?
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