Investing.com - The dollar pushed higher against the yen on
Monday after official data showed that Chinese economic growth met
expectations in the second quarter, easing concerns over a slowdown
in the world's second largest economy.
USD/JPY hit 99.41 during late Asian trade, the session high; the
pair subsequently consolidated at 99.38, gaining 0.16%.
The pair was likely to find support at 98.66, Friday's low and
resistance at 100.15, the high of July 4.
Official data showed that Chinese gross domestic product expanded
7.5% in the second quarter from a year earlier, following growth of
7.7% in the three months to March and in line with expectations.
Separate reports showed that Chinese retail sales rose to13.3% on a
year-over-year basis in June, up from 12.9% in May, while
industrial production declined to 8.9% in June from 9.2% the
Elsewhere, the yen was steady against the euro, with EUR/JPY
dipping 0.01% to 129.68.
The U.S. was to release official data on retail sales and the
Empire State manufacturing index later in the trading day.
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