Yen Climbs as Japan’s GDP Finalized in Positive Territory

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 ‎¥1.89 trillion in March to â€Ž¥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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