The Japanese yen was the second weakest of the majors on Thursday as increased risk appetite drove up demand for FX carry trades and equities, with the DJIA ending the day up 32 points at 8770.92. That said, the moves ultimately kept the DJIA within its week-long trading range since it was unable to close above the June 5 high of 8839, suggesting that the index’s rally today didn’t mark a true breakout. Japanese economic data had no impact on the currency overnight despite the fact Q1 GDP was revised higher than expected to an annualized -14.2 percent from -15.2 percent. According to the Cabinet Office’s final reading, capital spending and inventories fell at a slower pace than previously anticipated, but even the revisions left GDP down by the most since recordkeeping began in 1955 as export demand collapsed amidst the global economic slowdown.