Yen drops as China’s growth beats forecasts The Japanese yen - TopicsExpress

Yen drops as China’s growth beats forecasts The Japanese yen slipped on Tuesday following a report from China showing growth grew faster than analysts were expecting dampening demand for safe haven assets. The euro stayed under pressure as forex investors await the European Central Bank’s decision on possible easing measures later this week. China’s economy grew 7.3 percent in the fourth quarter, slightly better than the 7.2 percent expected. The Aussie declined against most of its rivals after BlackRock Inc. said it sees the currency dropping 15 percent this year. AUD/USD dipped to 0.8160 overnight. The euro weakened again overnight after pulling back slightly yesterday amid speculation the ECB will introduce aggressive stimulus measures on Thursday. EUR/USD fell to 1.1568. USD/JPY rose to 118.53 overnight. US markets were closed on Monday for Martin Luther King day. Asian markets rallied sharply with the Nikkei closing more than 2 percent higher. Gold remains strong, and rose to $1’281 an ounce overnight. Good day

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