Published: 2025-12-23T13:40:04.000Z
USD/JPY, EUR/USD flows: USD up on Good GDP Data
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Initial reaction has been a higher USD on the better than expected Q3 U.S. GDP data.
4.3% versus 3.3% consensus for Q3 GDP, but most of the surprise is the 8.8% export rise and 4.7% import fall. Final domestic demand came in at a more moderate 2.7% and the Fed are likely to look at that and understand that imports were depressed by unwinding of H1 pre tariff surge -- though exports were also good. This could curtail followthrough USD gains.