Japanese Yen ticks higher after revised Japan’s Q3 GDP
The Japanese Yen (JPY) kicks off the new week on a positive note and draws support from a combination of factors, though the upside potential seems limited.
Government data released earlier today showed that Japan’s economy expanded at a faster pace than initially estimated in the third quarter. Apart from this, geopolitical tensions and concerns about US President-elect Donald Trump's impending trade tariffs offer support to the safe-haven JPY.
Meanwhile, the recent fall in the US Treasury bond yields contributes to the JPY's relative outperformance against its American counterpart and keeps the USD/JPY pair depressed below the 150.00 psychological mark during the Asian session.
That said, the market split over whether the Bank of Japan (BoJ) will hike interest rates further at its December meeting might hold back the JPY bulls from placing aggressive bets and limit losses for the currency pair.
Source: FXStreet
