Yen Mostly Lower as GDP Stagnates

The Japanese yen traded mostly below the opening level against most major currencies, though there were few exceptions. Economic data released from Japan today was mixed, but the most important GDP report was poor, weakening the currency.
Japan’s gross domestic product showed no growth in the second quarter of this year, surprising economists who were expecting at least some increase. Meanwhile, industrial production rose 2.3% in June from the previous month according to the revised report, exceeding analysts’ forecasts and the preliminary estimate of 1.9%. The yen was mostly lower after the data, though the losses were fairly small.
USD/JPY traded at about the opening level of 101.11 as of 14:54 GMT today. EUR/JPY ticked up a little from 112.94 to 113.18 after falling to 112.67 intraday.

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