Super strong data from Japan:
- Japan Q4 GDP surges to +2.8% annualized (from +1.0% expected), deflator hits 2.8% - yen up
- +0.7& q/q vs. +0.3% expected
- expanded for a third straight quarter
- net exports improved
- capex up
- domestic demand fell a touch, dragging on GDP
This bolsters the case for further and quicker interest rate hikes from the Bank of Japan.
Its sent yen higher:
