LONDON, Feb 14 (Reuters)- The dollar hit a 15 - month
low against the yen but steadied against the euro on Wednesday, with investors nervous ahead of key U.S. inflation numbers due later amid a fragile recovery in equity markets.
LONDON, Feb 14 - The dollar hit a 15 - month
low against the yen but steadied against the euro on Wednesday, with investors nervous ahead of key U.S. inflation numbers due later amid a fragile recovery in equity markets.
The euro hit a two - month
low against the yen soon after FDP leader Christian Lindner said on Sunday that his party was withdrawing from the talks as the three would - be partners could not find common ground on key issues.
The dollar was mixed Friday, higher against the euro and many other currencies but
lower against the yen.
Not exact matches
The euro rebounded from a two - week trough, and the dollar fell to its
low on the day
against the Japanese
yen after comments from New York Fed President William Dudley.
The dollar hit a 10 - day high
against the
yen in overnight trading, but reversed that move, touching its session
low after Dudley's remarks.
Earlier the euro zone common currency had fallen to a session
low against the dollar and
yen on speculation that some large German banks could be asked to split their investment banking operations, driving European shares
lower.
The last time the G - 20 issued such a firm statement
against currency wars Japan was in the spotlight as its campaign of monetary stimulus pushed the
yen to its
lowest level
against the dollar in about five years.
Elsewhere in forex markets, it's a relatively calm day, with a slight correction in the risk - off trade that we have been monitoring for weeks, as the
yen is a tad
lower today
against all of its major peers, while the Dollar couldn't gain on risk - on currencies, despite the equity weakness.
Europe Roundup: Sterling steadies near 4 - month
lows on soft construction PMI, dollar off peaks
against yen on U.S. - China tariff talk concerns, European shares slump - Thursday, May 3rd, 2018
Already some of his comments have been blamed for the currency falling, most recently to two month
lows against the Japanese
yen, after he claimed the strength of the US dollar
against China's yuan was «killing us».
The
yen hit historic
lows against the U.S. dollar in 2016, and though it had strengthened by December, it still was very
low, spurring an increase in international travel demand.
The dollar index has fallen 1.6 % from last Friday and
against the
yen, the dollar is 0.6 %
lower.
As of today, the unemployment level maintains to the
lowest levels since 2009, but any increase in unemployment may weaken the European currency
against major pairs, including
Yen.
The U.S. Dollar Index is modestly
lower today at 92.43 with the greenback displaying weakness
against the euro -LRB--0.3 % at 1.1988) and the
yen -LRB--0.6 % at 109.22).
During this period, the dollar reached a
low of 102
against the
yen, and 1.365
against the euro — the
lowest level since the latter's introduction in 1999.
If the Dollar broke
lower, its likely too that bonds and duration would rally; defensives (staples, utes, reits) and growth (tech / biotech / discret) squeeze
against crowded value unwinding (fins, energy, indus);
yen and euro would squeeze mightily; gold squeezes while copper pukes in a favorite commodities «pair» unwind; HY could reverse weaker vs IG (currently everybody long CCC vs BB on the high beta trade)... this would be the theoretical path to our next pain - trade or even VaR shock.
In the final three months of last year the US dollar declined by 8 per cent
against the euro and 7 per cent
against the
yen, to be around its
lowest level in the past decade.
The greenback slid
against all of its major peers yesterday's, falling to an eight week
low against the pound sterling and sliding to 97.08
against the Japanese
yen, amongst others.
-- Even though the Fed is not expecting a massive deterioration in US inflation expectations, as the Fed
lowered projections for rate hikes, the tendency is for dollar softness
against the
yen, which is poor for sentiment in Japan, particularly for equity sentiment.
Most important has been the weakening in the
yen, which fell
against the US dollar from 133 at end March to a
low of 146, before intervention by the US authorities saw it recover sharply (Graph 1).
The buck is slightly
lower against the Euro and the Japanese
Yen, but is climbing
against the British pound after the disappointing UK GDP report.
The dollar was marked
lower against the euro and the
yen, falling 1 percent
against the European currency.
U.S. Dollar Losing Ground Ahead of ADP and ISM Services Report The U.S. Dollar is trading
lower against most currencies with the exception of the Japanese
Yen as stronger equity markets in Europe and Asia helped drove up demand for higher yielding assets.
The Canadian Dollar has been appreciating
against the Japanese
Yen after the pair reverse from the
lower boundary of a dominant ascending channel May 8.
108
yen fetches a dollar right now which is the
lowest the dollar has been
against the
yen for a long, long while.
The pound dropped to its
lowest level since 1985 as it became clear that Britain had voted Out, having already collapsed a historic 13 %
against the Japanese
Yen.