Japan Q4 GDP data pumps the yen higher
- Annualised GDP +2.8% (poll: +1.0%)
- Private consumption +0.1% qtr/qtr (poll: -0.3%)
- External demand contribution to GDP +0.7 pct point (poll: +0.4 pct pt)
- Capex +0.5% qtr/qtr (poll: +1.0%)
- Real GDP +0.7% qtr/qtr (Reuters poll: +0.3%)
- Exports +1.1% qtr/qtr
- Domestic demand contribution to GDP -0.1 pct point
- GDP deflator +2.8% yr/yr
These strong figures will contribute to the case for further, and sooner Bank of Japan interest rate hikes. JPY has responded by jumping higher. USD/JPY is circa 152.00 as I update
