The GDP grew to 1.6% in the January-March period from the previous quarter.
Current account data from
The rise in Japanese stocks weighed on the currency. The benchmark
The yen fell to nearly 4-week lows of 140.08 against the euro, 172.52 against the pound and 95.92 against the Australian dollar, down from last week's closing quotes of 139.80, 172.12 and 95.57, respectively. If the yen extends its fall, it is likely to find support around 141.17 against the euro, 173.03 against the pound and 96.44 against the aussie.
The yen that ended last week's deals at 102.44 against the US dollar and 93.70 against the Canadian dollar fell to 4-day lows of 102.63 and 93.89, respectively. The next possible downside target for the yen is seen at 103.15 against the greenback and 94.21 against the loonie.
Against the Swiss franc and the NZ dollar, the yen fell to 114.88 and 87.35, from last week's closing quotes of 114.64 and 87.02, respectively. If the yen extends its downtrend, it is likely to find support around 115.68 against the franc and 88.03 against the kiwi.
Looking ahead, Japanese Consumer sentiment index and the results of Eco Watchers survey for May are due at
In the European session, Eurozone Sentix investor sentiment index for June is due to be released.
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