13-02-2017 15:02 via feedproxy.google.com

The yen is tumbling after Japan's GDP miss

The Japanese yen is weaker after a GDP miss.
The currency is down by 0.6% at 113.91 per dollar as of 8:46 a.m. ET.
Earlier, a preliminary estimate showed that the Japanese economy grew by 0.2% in the fourth quarter, below economists' expectations of 0.3%. This was the third consecutive quarter that growth slowed.
"Growth was not fast enough last quarter to reduce spare capacity any further, but the current level of the output gap remains consistent with stronger price pressures. The upshot
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