FXstreet.com (Barcelona) - The USD/JPY has fallen around 75 pips just after the worst than expected US GDP data from the 97.55 to the 96.80 level. After that, the pair has begun to recover the position and currently, the USD/JPY is trading around the 97.20/35 band.
US GDP has collapsed 6.2% in the 4Q, worst than a decreases of 5.3% expected by market. In the 3Q, the GDP fell 0.5% related to the previous quarter.
According to Nick Nassad, Currency market analyst with CMS Forex, the Dollar is currently the safe haven currency of choice: The Yen has lost its allure as carry trade positions seem to be unwound, and the Yen has been suffering (except today) despite losses in equity markets. The Swiss Franc is also coming under pressure as its export driven economy is faltering.