USD/JPY hit hard after the terrible GDP figures, back under 143.50

USD/JPY has dropped to under 143.30. It was trashed even lower overnight and rebounded to 144:

• ForexLive Asia-Pacific FX news wrap: Ueda talks about exit, yen rallies
• ForexLive European FX news wrap: Yen rallies further on Ueda
• Forexlive Americas FX news wrap: USD/JPY gaps lower after break of 144.00

We’ve had disappointing data this morning out of Japan, wage growth lagging CPI and household spenidng lower again

• Japan data: Oct Wages +1.5% y/y (prior +1.2%), Household spending -2.5% y/y (expected -3%)

GDP for Q3 was revised to an even deeper contraction:

• Japan Q3 GDP -0.7% q/q (preliminary was -0.5%, prior +1.2%)

The annualized y/y was -2.9%. It’d be a very brave central bank tightening into such numbers.

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Buckle up for a wild ride in USD/JPY into the end of the week:

And it’ll begin all over again come Monday!

This article was written by Eamonn Sheridan at www.forexlive.com. Source