Japanese Yen Gains as US GDP Miss Weighs on USD/JPY, BoJ in Focus
USD/JPY drops 0.31% to around 162.90 as weak US data and the Fed meeting outcome pressure the dollar. Markets turn attention to the upcoming Bank of Japan decision.
USDJPY
The Japanese yen strengthened against the US dollar on Thursday, pushing USD/JPY down 0.31% to around 162.90. A combination of factors weighed on the greenback, including a Federal Reserve meeting outcome on Wednesday that failed to boost the dollar, and a series of weaker-than-expected US economic data releases earlier in the day, notably a GDP miss.
The dollar’s decline gave the yen the upper hand, with markets now turning their focus to the upcoming Bank of Japan (BoJ) decision.
Source: FXStreet Forex News