Cozy101
19-08-2009, 09:07
The Japanese Yen rallied across the board on Monday, after GDP data out of Japan showed the country’s economy grew, albeit slightly, for the first time in five quarters.
The Gross Domestic Product reading showed a .9% increase in the April to June quarter, and coincided with a massive sell off in Asian stock markets. Sentiment on the street was that the rise in the Yen on Monday had less to do with the positive data and more to do with the flow of money back into the safe havens, as investors bought it as a safe haven.
The Gross Domestic Product reading showed a .9% increase in the April to June quarter, and coincided with a massive sell off in Asian stock markets. Sentiment on the street was that the rise in the Yen on Monday had less to do with the positive data and more to do with the flow of money back into the safe havens, as investors bought it as a safe haven.