Yen Remains Weak as Growth Slows & Risk Appetite Rises

The Japanese yen continue to demonstrated weakness today as economic growth slowed, while speculations about prolongation of monetary stimulus from the US Federal Reserve damped demand for safer currencies.
Japan’s gross domestic product expanded 0.5 percent in the third quarter of this year from the previous quarter. The growth was above analysts’ forecast of 0.4 percent, but slower than second quarter’s 0.9 percent. Talks that the Fed may delay reduction of asset purchases encouraged traders to leave safe currencies in favor of riskier ones.
USD/JPY went up from 100.00 to 100.32 and EUR/JPY rose from 134.58 to 134.99 as of 8:59 GMT today.

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