USD/JPY: Dollar Pops Above ¥153 After Japan’s Economy Barely Avoids Recession Dive
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The Japanese yen weakened as USD/JPY rose above ¥153 following Japan's GDP growth of just 0.1% in Q4, narrowly avoiding a recession. Economists had anticipated a stronger rebound of 0.4%. The Bank of Japan maintains a supportive policy outlook, with inflation cooling to 2.1%. Analysts expect a potential rate hike in spring, but the soft GDP data complicates this. The dollar remains strong due to favorable yield differentials, as US rates are elevated compared to Japan's cautious approach, keeping the yen under pressure.
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