The Japanese yen climbed today after the final revision of Japan’s gross domestic product confirmed growth of the nation’s economy.
First quarter’s GDP rose 0.5% in the first quarter of this year according to the revised estimate, a bit more than the preliminary 0.4%, after falling 0.3% in the fourth quarter of 2015. Meanwhile, the current account surplus shrank from â¥1.89 trillion in March to â¥1.63 trillion in April. Apparently, markets paid no heed to the negative report, focusing on the positive one and thus driving the yen higher.
USD/JPY dropped from 107.35 to 106.77 as of 16:33 GMT today. GBP/JPY declined from 156.11 to 155.37.
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