How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Aussie declines as Q2 GDP is shy of hopes
On Tuesday, the Australian dollar relieved in Asia because GDP figures for the second quarter were moderately below hopes and the evergreen buck held weaker versus the Japanese yen notwithstanding dismal wages data from Tokyo with market participants monitoring North Korea for further signs it could test on September 9, which could suggest a response to employ anti-missile technology just to put it down.
Australia’s GDP for the second quarter leapt 0.8%, which is below the 0.9% rise observed on quarter and also a 1.8% leap at an annual tempo, below the 1.9% jump expected.
Japan posted average cash earnings went down 0.3%, versus a revenue of 0.5% on year expected for August.
The currency pair USD/JPY hit 108.75, sliding 0.06%, AUD/USD reached 0.7992, declining 0.05%.
Overnight, the US currency was pressured because soaring tensions between America and North Korea kept demand for safe haven currencies intact.
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