FXstreet.com (Córdoba) - The Dollar is weaker across the board on Monday as commodities, stocks and gold are rising sharply. USD/JPY fell to 89.20, posting a fresh two-week low. From there the pair rebounded but found resistance at 89.40. Currently it trades at 89.34/38, 0.21% below today's opening price. Greenback is falling for the second session in a row against the Yen and accumulates a decline of more than a hundred pips since Friday.
The FastBrokers Research Team affirms: The USD/JPY is drifting lower today following stronger than expected Prelim GDP data from Japan. Furthermore, although the headline U.S. Retail Sales data topped expected, the Core number underperformed. Altogether, this could be a negative catalyst for the USD/JPY. The outperformance of Japan's GDP could lead investors to favor the Yen over the Dollar considering America's data continues to roll in negatively mixed.