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USD/JPY gains momentum after US GDP

FXStreet (Córdoba) - USD/JPY rose from 118.05 to 118.28, reaching the highest price since the Asian session, after the release of better-than-expected economic data in the US.

According to the new estimate, the US economy grew at a rate of 3.9% during the third quarter, that is higher than the previous estimate of 3.5% and above the expected 3.3%. Greenback gained momentum across the board after the report.

USD/JPY away from the lows

Before the economic numbers, the pair was hovering around 118.00, slightly lower for the day, still moving with a slightly bullish bias in the short term, making higher lows and higher highs for the third trading day in a row but holding below last Thursday peak, when it climbed to 118.97 (7-year high).

Currently trades at 118.20, approaching daily highs and moving away from the lows, supported by US GDP data, ahead of Wall Street opening.

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