USD/JPY flows: GDP Beats

Japan Q1 GDP beats estimate at 2.1% annualized. While it is supportive with private consumption rising slightly above estimate at 0.3%, so as CAPEX, the picture for Q2 contrast starkly. Energy shock is going to be a huge issue for economic growth in Q2 but should be partially shielded by stimulus for now.

USD/JPY is trading 0.09% higher at 158.92 as JGB yields once again take off.