The Japanese yen gained today even as the country’s economic growth missed expectations. Some analysts argued, though, that the data was not entirely bad, and this may explain the currency’s gains.
Japan’s gross domestic product rose 0.3% in the third quarter of this year. That was a slower growth than the predicted 0.4% and the previous quarter’s 0.6%. Yet experts pointed out that was the seventh consecutive quarterly growth of the nation’s economy — the longest stretch of economic growth in more than a decade.
USD/JPY declined from 113.44 to 112.81 as of 14:37 GMT, touching the daily low of 112.48. EUR/JPY fell from 133.82 to 133.36.
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