Forex

USD/JPY gains ground for first session in three

2020-02-17 08:00:49 GMT (Economies.com)

USD/JPY tilted higher in Asian trade following earlier Japanese growth data while the US market shuts for the Presidents' Day holiday. 

 

As of 06:06 GMT, USD/JPY tilted 0.05% higher to 109.85, with an intraday high at 109.88. 

 

Earlier Japanese data showed GDP down 1.6% in the fourth quarter, compared to a 0.4% growth rate in the third. 

 

Japan's industrial production rose 1.2% in December, compared to a 1% drop in November. 

 

The Japanese government expected an economic slowdown in the last quarter of 2019 after raising taxes and following the tsunami that hit Japan recently, while warning that coronavirus might hurt growth in the first quarter of this year. 

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