US Q2 current account deficit narrows to $246B, beating forecasts

The headline beat is less meaningful than the direction: the gap still widened from a revised first-quarter figure, so the improvement is relative to forecasts, not to the prior period. For crypto and RWA markets, the read-through is indirect, since current account data says little about digital-asset flows on its own. What matters is whether this narrower-than-expected shortfall feeds into broader dollar and rate expectations, and whether the first-quarter revision proves to be a one-off. The open question is whether the next print continues the widening trend or confirms the forecast miss as a genuine softening.