USD/JPY: US Dollar remains flat as the US GDP growth disappoint in Q4

• USD/JPY trades little changed at ¥109.20 after US GDP failed to meet expectations,  rising at 2.6% annualized rate in Q4 2017
• US GDP price index rose 2.5% in the final quarter of 2017
• The US Durable goods orders jumped up 2.9% m/m in December 

The USD/JPY is trading little changed at around ¥109.20 against the US Dollar after rising as high as ¥109.79 after the US President Trump said he still wants strong US Dollar late on Thursday. 

The US GDP rose less than expected in Q4  increasing at an annual rate of 2.6% in the fourth quarter, but December durable goods orders compensated rising strong 2.9% m/m. 

On top of it, the GDP price index rose 2.5% in the final quarter of 2017, rising above expectations. 

Yen took a dive yesterday following Dollar-boosting remarks from President Trump, saying that he “ultimately” wants a strong dollar, in an attempt to walk back comments by Secretary of the Treasury Steven Mnuchin at the World Economic Forum in Davos. Mnuchin stated earlier this week that a weak US Dollar is desirable, as it helps to boost US trade. 

President Trump took back Mnuchin’s comments, stating that his words were “misinterpreted” by markets.