Yen hits two-week high on upbeat growth, inflation data

2018-08-10 08:40:37 GMT (

Yen climbed to July 26 highs against dollar in Asian trade after strong growth and inflation data, and ahead of crucial US consumer prices data later today. 


As of 07:12 GMT, USD/JPY slipped 0.18% to 110.88, with a two-week low at 110.6, and a session-high at 111.17. 


Earlier Japanese data showed the preliminary GDP reading with a 0.5% growth rate in the second quarter, the best in a year, and beating estimates of 0.3%, while growing 1.9% on a yearly basis, compared to a 0.6% drop in the previous quarter and beating estimates of a 1.4% expansion rate. 


An index tracking GDP prices rose 0.1%, slowing down from 0.5% in the first quarter but edging forecasts of no-change.


Producer prices rose by an excellent 3.1% y/y last month, the best since December 2017 and up from 2.8% in June, while beating estimates of 2.9%. 


Now markets await US data on consumer prices, expected to have increased by 0.2% in July, up from 0.1% in June, while core prices are estimated with a 0.2% rise, same as before. 


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