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USD/JPY unable to rally above 118.00

FXStreet (Córdoba) - USD/JPY rose after the release of US GDP data but then lost momentum and pulled back below 118.00.

Greenback weakens USD/JPY

The pair peaked at 118.28 after economic numbers from the US but then reveresed and dropped to 117.79 following Wall Street opening bell. Price held above daily lows that lie at 117.67 and then bounced to the upside. At the moment of writing is hovering around 118.00, down 25 pis for the day

Despite better-than-expected US economic data, Greenback weakened across the board and trimmed gains. The yen strengthened as US bond yields continue to slide and despite risk appetite.

Yen stable as US GDP sparkles – MP

Kenny Fisher, Currency Analyst at MarketPulse notes that the USD/JPY pair regained in the European session what it the lost in the Asian session.
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