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JPY Daily News
Yen Gains On China's Disappointing GDP
The Yen jumped against the Dollar and other major currencies on Thursday after data showed China's economic growth slowed to its weakest on record, disappointing market players who had bought higher-yielding currencies in anticipation of more upbeat numbers.
China's annual GDP growth slowed to 6.1% in the first quarter from 6.8% in the final three months of last year, prompting market players to reverse positions and buy the Yen back. The Japanese currency jumped 0.3% against the USD to 99.15 Yen, and 2% against the GBP to 148.63 Yen.
The Japanese currency's biggest gains yesterday were versus the Australian and New Zealand dollars on speculation that the slowdown in China's economic expansion will deepen the world's recession. The JPY rose as much as 2.4% against the Aussie to 70.69 yen, and versus the New Zealand dollar, it appreciated 2.9% to 56.05 yen. These gains may continue through the rest of April.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 04/17 | ||||||||
| 06:00 | JPY |  Household Confidence | 26.7 | 29.3 | 28.9 |  | ||
