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27 Aug 2015
USD/JPY climbs above 120.50 after US GDP, jobless claims
FXStreet (Córdoba) - The dollar pushed higher and reached fresh daily highs versus the yen after data showed US economy expanded at a faster pace than initially estimated in the second quarter and initial jobless claims fell more than expected last week.
US gross domestic product rose at a 3.7% annual rate in the second quarter, up from the initial estimate of 2.3% growth and beating expectations of 3.2%. Meanwhile, the PCE price index, the Fed’s preferred measure of inflation, rose 2.1% in the Q2 versus 2.0% expected.
Separated data showed US initial jobless claims dropped to 271K in the latest week down from 277K and versus 274K expected.
USD/JPY picked up momentum and printed a marginal new high for the day at 120.63 underpinned by data. At time of writing, the pair is trading at 120.60, recording a 0.57% gain on the day.
US gross domestic product rose at a 3.7% annual rate in the second quarter, up from the initial estimate of 2.3% growth and beating expectations of 3.2%. Meanwhile, the PCE price index, the Fed’s preferred measure of inflation, rose 2.1% in the Q2 versus 2.0% expected.
Separated data showed US initial jobless claims dropped to 271K in the latest week down from 277K and versus 274K expected.
USD/JPY picked up momentum and printed a marginal new high for the day at 120.63 underpinned by data. At time of writing, the pair is trading at 120.60, recording a 0.57% gain on the day.