Japan’s softer preliminary Q2 GDP data boosts the yen, pushing USD/JPY down for a second straight session.
The Japanese yen strengthened against the US dollar, driving USD/JPY to around 159.10 in Asian trading on Monday. The pair extended losses for a second day following Japan’s preliminary Q2 GDP data, which fell short of expectations.
Japan’s economy showed signs of weakness in the second quarter, contrasting with recent market expectations. The yen’s rally reflects investor reactions to the disappointing growth figures, though prior prints and consensus estimates remain unclear.
Trading activity in the Asian session suggests continued pressure on USD/JPY, with no immediate signs of reversal.