Published: 2024-03-11T04:38:54.000Z
USD/JPY flows: Q4 GDP revised to positive
FX Analyst
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Japan (final) Q4 GDP +0.1% q/q, preliminary -0.1%; annualized 0.4%, preliminary -0.4%.
Bank of Japan is considering scrapping its yield curve control program reported by Japan's JiJi
Japan 2023 Q4 q/q GDP (final) has been revised to +0.1% from -0.1% in the preliminary read, y/y to +0.4% from -0.4%. However, the details show private consumption to be revised further lower from -0.2% to -0.3% and it suggest Japanese continue to bear the burden of negative real wage and inflationary living pressure. Capex, on the other hand, is revised significantly higher. Over the weekend, Japan's JiJi reported that the Bank of Japan is considering scrapping its yield curve control program as soon as March.
USD/JPY initially dipped to 146.53 before retracing most losses to trade 0.07% lower at 146.95.