The Japanese yen logged gains today after the final revision of the nation’s economic growth has turned out to be better than analysts had expected. The yen gained against such currencies as the US dollar and the Great Britain pound.
Japan’s gross domestic product grew 1 percent in the first quarter of this year from the previous three months compared to the preliminary estimate of 0.6 percent and the expected increase of 0.7 percent. Year-on-year, the economy also showed solid growth by 3.9 percent, far bigger than 2.4 percent reported previously. Despite the strong economic growth, the lack of inflation remains the major problem for Japan, meaning that the central bank may still implement additional stimulus measures.
USD/JPY ticked down from 125.59 to 125.34 as of 9:40 GMT today. GBP/JPY dropped from 191.75 to 190.91.
If you have any questions, comments or opinions regarding the Japanese Yen,
feel free to post them using the commentary form below.
