Yen Rises After Japan Growth Revised Upwards

Japan has revised up its growth numbers for the first three months of the year, adding to hopes of a recovery in the world’s third-largest economy.

The economy grew 1% between January and March, compared to the previous three months, indicating an annualised growth of 4.1%, the cabinet office said.

That is up from the initial estimates of 0.9% quarter-on-quarter growth.

The data follows a series of aggressive policy moves aimed at spurring growth in Japan’s economy.

The upward revision in the growth numbers helped lift investor morale, with the Nikkei 225 index jumping nearly 5%.

The surge was led by Japan’s major exporters, with shares in Toyota rising 8.5% and Sony up by nearly 7%.

via BBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.