Japan’s GDP was weaker than expected
The dollar rebounded in the morning trade in Asia on Friday, although it was still hovering near three-week lows after sliding in the past few days.
Geopolitical tensions continued to warm in East Asia, as U.S. President Donald Trump said he may sign an agreement to officially end the Korean War with North Korea’s Kim Jong Un at their upcoming summit next Tuesday in Singapore. Trump even suggested hosting Kim at the White House later this year.
In Japan, the GDP was weaker than expected. The yen was losing ground to the dollar, as the USDJPY pair added 0.01% to 109.71. The country’s GDP growth figure came in at -0.2% on quarter in the first three months of 2018, compared to the estimated -0.1%.
This week’s focus is also on the upcoming G7 summit scheduled this weekend, as trade issues between the U.S. and other countries will continue to garner attention to see if a global trade war is likely to tick start.
Meanwhile, the AUDUSD was trading at 0.7607.