Published: 2024-07-01T04:32:31.000Z
USD/JPY flows: GDP Revised Significantly Lower
FX Analyst
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Japan Q1 GDP revised to -2.9% from -1.8%
After revisiting construction order, Japan has revised GDP lower for at least the last three quarters. The 2024 Q1 annualized GDP has been revised to -2.9% from -1.8%, a significantly deep recession than before. It may weigh on BoJ's decision to further tighten as they are already concerned about consumption yet the key lies in trend inflation forecast.
USD/JPY is trading 0.12% higher at 161. 02 as U.S. Treasury yields slips and 10yr JGB yields closing the gap.