Dollar Slides on US GDP, Japan bonds Fall on BOJ Move

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Weak US economic growth data knocked down the dollar and yields on US government debt Friday, while Japanese government bond yields rose the most in eight years after investors reacted coolly to the Bank of Japan's latest effort to boost the economy. 

The US economy grew far less than expected in the second quarter as inventory investment fell for the first time in nearly five years. But a surge in consumer spending suggested underlying strength and provided a silver lining for investors. 

 

The BOJ doubled its purchases of exchange-traded funds, yielding to pressure from the government and financial markets for bolder action. The move nevertheless disappointed investors who sought more audacious measures. The yen jumped 3.05 percent against the dollar, whose decline put the trade-weighted dollar exchange rate on course for its biggest weekly fall in two months. The dollar index .DXY fell 1.22 percent to 95.569.

 

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