USD/JPY halts a two-day winning streak possibly on the back of upbeat Chinese economic data. The spot price trades lower near 149.80 during the Europe
USD/JPY recovers its intraday losses pre-release of US economic data. Chinese GDP exceeded expectations; contributing support for the Japanese Yen. Higher US Treasury yields provide support to underpinning the US Dollar. an session on Wednesday. However, the USD/JPY is benefiting from the upbeat Retail Sales from the United States , buoyed by higher US Treasury yields. Chinese Gross Domestic Product exceeded market consensus in the third quarter, reporting a growth of 1.
Meanwhile, US Industrial Production improved by 0.3%, defying expectations of stagnation at 0.0%. The positive Chinese data could exert minor pressure on the US Dollar Index struggled to maintain intraday gains, hovering around 106.20. On a positive note, US Treasury yields improved, reaching 4.85% for the 10-year US Treasury bond, potentially giving support to the Greenback.
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