Asian Session – Dollar remains under pressure, sterling hits 4-year high
Posted on February 17, 2014 at 8:08 am GMTJapan’s GDP data were the main focus of the Asian session on Monday. The Japanese economy grew at a slower pace in the fourth quarter, at an annualized 1% versus a 2.8% expected. Third quarter GDP was at 1.1%.The weaker-than-expected figure initially dampened risk appetite and caused a drop in Tokyo’s Nikkei, which initially lifted the yen. Risk aversion coupled with broad dollar weakness, pressured the dollar/yen pair to a low of 101.37 from Friday’s close of 101.78. The [..]