The yen edged higher on Monday after data showed Japan’s economy grew at a slower-than-expected pace in the second-quarter, prompting investors to sell Tokyo shares and trim their exposure to risk.
The dollar fell to a low of 95.97 yen, nearing a seven-week trough of 95.81 yen set last Thursday, and was below the 96.38 yen level just before Japan’s data was released.
It last stood at 96.14 yen, down 0.1 percent on the day.
The euro touched a six-week low of 127.97 yen and was last down 0.2 percent at about 128.12 yen.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.