Japanese Yen Rises on Signs of Economic Growth
The Japanese yen gained today after the nation’s gross domestic product grew, signaling about the increasing pace of the country’s economic recovery.
The gross domestic product rose at the annual 4.9 percent pace in the first quarter. This showed that the Japan’s economy is gradually recovering, as was confirmed by the Goldman Sachs Group Inc., which said about “solid growth driven by external demand and policy stimulus”.
USD/JPY traded near 91.26 as of 8:46 GMT today after it opened at 91.67. EUR/JPY traded at about 113.19 after opening at 113.80.
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Earlier News About the Japanese Yen:
- Japanese Yen Weakens on Equities & Hopes for Europe's Recovery (2010-05-12)
- Concern About Greece's Crisis Pushes Yen Up (2010-04-27)
- Yen Advances Against Euro on Higher Risk Aversion Sentiment (2010-04-22)
- Yen Declines with Growing Appeal of Higher-Yielding Assets (2010-04-20)
- Safe Currency Needed, Yen is Considered (2010-04-17)