Yen Slips Below 159.00 as Japan's GDP Growth Disappoints

The Japanese Yen's value against the US Dollar has retreated below 159.00 after weaker-than-expected economic growth data from Japan.

The country's GDP growth eased to 0.3% in Q2, falling short of expectations for a steady 0.5% reading.

This development has added pressure on the Yen, as it casts doubts about the Bank of Japan's tightening plans and weighs on its value against other currencies.

The US Dollar is failing to capitalize on this weakness due to the Federal Reserve's dovish repricing, with traders dialing back their bets for a September rate hike to 30%, from above 50% one week ago.