The Japanese yen fell a bit after the release of a disappointing GDP report and was also under pressure from the risk-on market sentiment.
Japan’s gross domestic product rose 0.3% in the fourth quarter of 2018 from the previous three months. While it was a better result than the 0.7% decline registered in the third quarter, the increase missed the median forecast of 0.4%. The GDP Deflator fell 0.3%, year-on-year, the same as in the previous quarter and less than analysts had predicted — 0.4%.
USD/JPY traded at about 111.03 as of 13:03 GMT today, a bit above the opening level of 110.99. EUR/JPY was at 125.08, above the opening of 124.99 but noticeably below the daily high of 125.45.
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Japanese Yen Softens After Disappointing GDP Growth
