Japan Q2 GDP Expands 1.1% Annualized, Missing Forecast

Japan’s Q2 GDP grew at a 1.1% annualized pace, well below the 2.0% market forecast, equivalent to 0.3% q/q versus 0.5% expected. The weak growth may temper BOJ tightening bets and weigh on the yen, keeping USD/JPY sensitive to upcoming policy signals.