The Japanese Yen barely continued to exist in a week of strictly depressing financial data, forcing out a minor gain in opposition to the browbeaten US Dollar but dropping steeply in opposition to every other major counterpart. Japanese government officials reported the worst Gross Domestic Product reduction in the assessment’s 50+ year record, and weak economic fundamentals narrowed trader demand for the low-yielding Yen. The currency in fact experienced a marginal bounce after the GDP news release; analysts had expected an even poorer economic tightening. A diffidently positive week for the US S&P 500 and other international impartiality indices only mixed the risk-sensitive Japanese Yen’s anguishes.
