The Japanese yen held stronger on Monday in Asia despite weaker than expected economic growth last quarter.
Japan's fourth quarter economic growth clocked in at a gain of 0.6%, well below the quarter-on-quarter gain of 0.9% expected.
Earlier, New Zealand reported retail sales rose 1.7% quarter-on-quarter, beating an expectation of a 1.3% gain.
NZD/USD traded at 0.7480, up 0.34%, while USD/JPY changed hands at 118.68, down 0.05%. AUD/USD traded at 0.7770, up 0.16%.
Markets in the U.S. are closed for the Presidents Day holiday.
Last week, the dollar slid against the yen on Friday after weak data on U.S. consumer sentiment coming on the heels of other soft economic reports saw investors reassess expectations for a mid-year rate hike by the Federal Reserve.
The drop in the dollar came after data on Friday showed that U.S. consumer sentiment unexpectedly deteriorated in February.
Read more Click here / www.trade4x.net
Japan's fourth quarter economic growth clocked in at a gain of 0.6%, well below the quarter-on-quarter gain of 0.9% expected.
Earlier, New Zealand reported retail sales rose 1.7% quarter-on-quarter, beating an expectation of a 1.3% gain.
NZD/USD traded at 0.7480, up 0.34%, while USD/JPY changed hands at 118.68, down 0.05%. AUD/USD traded at 0.7770, up 0.16%.
Markets in the U.S. are closed for the Presidents Day holiday.
Last week, the dollar slid against the yen on Friday after weak data on U.S. consumer sentiment coming on the heels of other soft economic reports saw investors reassess expectations for a mid-year rate hike by the Federal Reserve.
The drop in the dollar came after data on Friday showed that U.S. consumer sentiment unexpectedly deteriorated in February.
Read more Click here / www.trade4x.net
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