USD/JPY back to 96.50 on Disappointing Japanese GDP

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.


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