USD Down vs. JPY After Disappointing GDP, Strong vs. Other Majors

The US dollar went down against the Japanese yen today after a disappointing report about US economic growth. The currency was still able to gain on the euro and the Great Britain pound.

The US economy grew just 2.6 percent in the fourth quarter of 2014 from a year ago, trailing the consensus analysts’ forecast of 3 percent. The growth was also slower than in the previous three months (5 percent). Not all news from the United States was bad as the Chicago Business Barometer rose this month unexpectedly.

The mixed data resulted in mixed performance of the dollar. The currency fell versus the yen during the current session and will likely close near this week’s opening level. The greenback gained on the pound and the euro but still headed to weekly losses against those currencies.

EUR/USD dipped from 1.1316 to 1.1295 as of 17:18 GMT today. GBP/USD dropped from 1.5065 to 1.5030 while USD/JPY declined from 118.30 to 117.50.

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