Japan's GDP figures were
released earlier this morning. During the first quarter GDP registered 0.4%
against the forecasted 0.1%. On annual basis the growth is 0.7% compared to
expected 0.3%.
Japan runs the risk of slipping into technical recession, which will lead to
eased monetary policy. This will be of support to USD/JPY, as will weaken the
yen.Now upon these better figures the hopes for BoJ’s further stimulus are fading
away.
On Tuesday session US dollar went up to 109.65, which was its highest level
since April 28, supported by the CPI positive mood.
On today’s session the pair rebounded from lows at 108.72 and currently is
trading at 109.53. Short term sentiment remains bullish, as next bulls
challenge is 109.90.
No comments:
Post a Comment