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JPY Daily News
Better GDP Numbers Helps the Yen Rise
Thursday, 12 Mar 2009
The JPY gained strength for the second day in a row and continued its gains into the Japanese trading session. The release of Japanese Final GDP came out better than expected. This helped to increase the bullishness of the JPY. The USD/JPY was trading lower near the 96.20 level early this morning.
The updated 4th quarter GDP numbers were greeted with cheers. Japan's economy has been one of the most negatively impacted economies during the global recession. Any sign of positive news could provide a boost to the Yen which has seen considerable weakness the past month. Traders may want to run with the bullish correction of the JPY today as this may continue with the release of poor U.S. economic indicators later today.
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