In the middle of the week, the USD/JPY pair is trading downwards; positive GDP statistics provides support.
The Japanese Yen is strengthening again. The current quote for the UDS/JPY pair is 107.08.
Today they published some interesting statistics relating the Japanese economy. Over the first quarter of 2016, the country’s GDP increased by 0.5% q/q (+1.9% y/y), which is very close to the number predicted by the Bank of Japan. By the way, over the fourth quarter of 2015, the indicator added only 0.4% q/q. The signs are becoming clear that the economy of the country is growing, and, according to Cabinet of Ministers of Japan, this positive momentum continues in the second quarter as well. As usual, the good GDP statistics provides support to the national currency.
The components of the GDP report show that the private consumption in the first quarter in Japan increased by 0.9%. Business expenditures increased as well, although they are still negative.
It is not unreasonable to assume that the economy is growing thanks to the motivation program implemented by the BoJ. The inflation targets haven’t been reached yet, but the progress cannot go unnoticed.
RoboForex Analytical Department
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