Usdjpy is down, I expected the opposite reaction.
Japan Q3 GDP unexpectedly shrinks, Abe seen delaying tax hike
Japan's economy unexpectedly shrank an annualised 1.6 percent in July-September after a severe contraction in the previous quarter, likely solidifying the view that premier Shinzo Abe will delay a second sales tax hike next year. The preliminary figure for gross domestic product (GDP) compared with a 2.1 percent increase forecast by economists in a Reuters poll. It followed a revised 7.3 percent contraction in the second quarter, which was the biggest slump since the March 2011 earthquake and tsunami, Cabinet Office data showed on Monday. On a quarter-on-quarter basis, the economy shrank 0.4 percent in the third ... (full story)