Economic woes hit Japan's GDP, USD/JPY drops below 143.50
The USD/JPY currency pair has fallen below 143.50 after disappointing GDP figures and weak economic data from Japan, including lower household spending and wage growth lagging behind CPI. The Q3 GDP contraction was revised to -0.7% q/q, making it unlikely for the central bank to tighten monetary policy. Traders should expect volatility in USD/JPY for the rest of the week and into the following week.