US Q2 GDP (second reading) 2.1% vs 2.1% expected

US second quarter GDP data

• Preliminary reading was 1.5%
• Personal consumption 3.0% vs 3.2% exp
• GDP price index 1.3% vs 1.2% exp
• Core PCE q/q 1.3% vs 1.3% exp

Separately, advance US trade balance:

• $58.41 billion deficit vs $60.90B exp
• Prior revised to $59.15B from $58.63

USD/JPY hit session lows at 122.36 after the GDP data from 122.50. A few seconds later the trade data was published and that aided a rebound to 122.45.