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USD/JPY soars on stronger US data

FXstreet.com (Athens) – The USD/JPY soared on much better than estimated annualized GDP.

Great beat from US GDP, up 2.5% and… USD/JPY skyrockets

The USD/JPY was trading nearly 98.30 area ahead of the US news, in an uptrend momentum. As soon as the US data released, showing a really fascinating figure in US annualized GDP (2.5% versus estimation of +2.2%), it spiked on 98.50 level. However, it is of great importance that after 20 minutes of the data release, the pair still pared its earlier gains, getting back to 98.30 area. These figures will help to put the September taper question …read more