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Asian Session: Japanese GDP contracts as expected – dollar constructive through the night.
05/29/09 by Daily Forex Snapshots
Filed under Forex & Futures
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The Japanese economy contracted a record 4% (-15.2% Annualized rate) in the first quarter but was largely in-line with expectations, the Yen failed to move substantially – testament to the fact that this sharp decline in GDP was already priced into the markets. Japan’s GDP followed suit to what Europe had reported last week as slowing global demand for its products has hurt exports – a major… | ||||||||||||||||||||
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