The Japanese yen retained its strength against the vast majority of its most-traded peers even though macroeconomic data released over the Wednesday’s session in Japan was not that good.
Japan’s gross domestic product rose 0.1% in the December quarter from the previous three months, missing expectations of a 0.2% growth and slowing from the previous quarter’s revised growth of 0.6%. The GDP Deflator was unchanged, year-over-year, in line with expectations but also slowing from the previous quarter’s revised 0.2% rate of growth. Despite the underwhelming data, the yen retained strength it demonstrated yesterday, though, surprisingly enough, not against the New Zealand dollar.
USD/JPY fell from 107.81 to 107.38 as of 11:50 GMT today, and its daily low of 106.83 was the lowest since November 2016. In the meantime, NZD/JPY edged up from 78.38 to 78.49.
If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.
Be First to Comment