Japanese yen rose evidently versus major currencies early Monday trading following a period of instability and weak economic performance as the economy logged a more-than-estimate expansion in the second quarter of the year. Japan’s GDP expanded an annualized 3.8% from the first quarter, higher than analysts’ estimates of 2.6%, which boosted today’s trades on Japanese yen confirming that the world’s third largest economy is well-maintained.
The yen rose noticeably against the U.S. dollar with the USD/JPY pair falling to a low of 99.481 after hitting high of 100.048. The pair started Monday session at 100.001.
The EUR/JPY pair also fell to low of 131.029 from high of 131.335. Meanwhile, the GBP/JPY pair dropped to 155.492 from 155.845 and the session kickstart at 155.771. The euro advanced against the dollar for the third consecutive session with the EUR/USD pair rising to a high of 1.31806 from a low of 1.31669. The pair started the session at 1.31711.