Forex News – Big miss in Japanese Q3 GDP leads to fresh high in dollar / yen
Posted on November 17, 2014 at 1:46 pm GMTThe news that the Japanese GDP for the third quarter contracted by 0.4% quarter-on-quarter instead of expanding by 0.5% as economists expected, was a huge negative surprise. Technically Japan is now in its third recession in 4 years, as the second and third quarters both posted negative growth rates. The second quarter’s growth rate was revised negatively from -1.8% to -1.9%. The second quarter was when the sales tax was raised. Granted the contraction of the 3rd quarter was mainly the [..]