Yen sinks amid solid Chinese data
On Friday, the Japanese yen headed south and reached a three-week minimum against the US dollar. It’s because China’s second-quarter GDP as well as June activity data pointed to stabilization in the Chinese economy and drove risk sentiment.
The evergreen buck edged up 0.9%, hitting 106.27 yen and reached a peak of 106.32 yen at one point, thus demonstrating the strongest value since June 24.
For the week, the greenback has leapt 5.6% against Japan’s currency, putting itself on track for its best weekly outcome versus the Japanese yen since February 1999.
The common currency earned 1%, hitting 118.33 yen, while the Australian dollar soared 1.2%, getting to 81.29 yen.
By the way, there had been some concerns regarding China’s economy. However, the latest numbers showed that it's in a good shape.
A bit earlier on Friday, the risk-sensitive Aussie briefly sank against the Japanese yen, following reports that an attacker murdered about 80 people and injured scores when driving a truck at high speed into a crowd in the French Riviera city of Nice on Thursday.