The Japanese yen fell today as the nation’s economy slowed last month more than was expected by market participants, sparking talks about additional monetary easing from policy makers.
Japanese gross domestic product grew 0.6 percent in the second quarter of 2013, compared to the forecast of 0.9 percent. Annual growth slowed from 3.8 percent in Q1 to 2.6 percent in Q2, while it was expected to be little-changed at 3.6 percent. The data made some investors believe that the Bank of Japan will resume expansion of monetary stimulus to support the economy.
USD/JPY rose from 96.28 to 96.75, following the drop to 95.91, and GBP/JPY ticked up from 149.12 to 149.80 as of 11:29 GMT today.
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