Yen Rises After Japan Growth Revised Upwards

Japan has revised up its growth numbers for the first three months of the year, adding to hopes of a recovery in the world’s third-largest economy.

The economy grew 1% between January and March, compared to the previous three months, indicating an annualised growth of 4.1%, the cabinet office said.

That is up from the initial estimates of 0.9% quarter-on-quarter growth.

The data follows a series of aggressive policy moves aimed at spurring growth in Japan’s economy.

The upward revision in the growth numbers helped lift investor morale, with the Nikkei 225 index jumping nearly 5%.

The surge was led by Japan’s major exporters, with shares in Toyota rising 8.5% and Sony up by nearly 7%.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza