USD/JPY is trading at 121.03, up 0.40. The pair has extended early morning gains by a little bit and is trading near the highs of the session.
Japanese GDP data came out at 0.6 percent quarter-over-quarter versus 0.3 percent on the previous report. Annualized the GDP was up 2.4 percent versus 1.1 percent previously reported. Market chatter about the FOMC minutes due out this afternoon is making the rounds.
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