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Reuters
It’s raining yen
Just as the yen’s eye-popping plunge against the dollar grabs the world’s financial market spotlight, investors will get a closer look on Thursday into the underlying state of the Japanese economy. Revised second quarter GDP data, and trade and current account figures for July, will give an insight into the yen’s economic fundamentals, and offer clues to whether the level and pace of the currency’s depreciation are justified. Economists expected Japan’s Q2 GDP growth to be revised up to an annualised 2.9% rate from 2.2%, and quarterly growth to be revised up to 0.7% from 0.5%.
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