{"id":2892,"date":"2017-02-07T03:20:31","date_gmt":"2017-02-07T03:20:31","guid":{"rendered":"http:\/\/arabicfxadvisors.com\/english\/?p=2892"},"modified":"2017-02-07T03:20:31","modified_gmt":"2017-02-07T03:20:31","slug":"dollar-pares-gain-japanese-yen-surges-high-since-november-6-feb-2017","status":"publish","type":"post","link":"https:\/\/arabicfxadvisors.com\/english\/dollar-pares-gain-japanese-yen-surges-high-since-november-6-feb-2017\/","title":{"rendered":"Dollar Pares Gain as Japanese Yen Surges to High Since November &#8211; 6 Feb, 2017"},"content":{"rendered":"<p>The Japanese yen rose versus all of its G-10 peers, driving dollar-yen to its lowest level since Nov. 29 as traders unwound stale yen short positions across several currency pairs, notably against the Canadian dollar and the Australian dollar.<\/p>\n<p>The yen strengthened through 112.00 per dollar after an earlier approach to the level was met with a rebound in the greenback, the gyrations coming as the dollar rose against most other\u00a0G-10 peers. FX traders are trying to adjust positioning while balancing a Fed that is intent on hiking rates two or three times this year with a new administration which has expressed some misgivings about dollar strength.<\/p>\n<p>Gains in the Bloomberg dollar index were about halved from the best levels of the day as the 10-year Treasury yield fell back to a fresh low for the session. Trading flows were erratic and dollar-yen closely tracked U.S. Treasury yields as traders sought fresh cues.<\/p>\n<p>The Bloomberg dollar index has dropped for six straight weeks after surging following the Trump election victory. At the same time, ultra-easy monetary policies in Japan and the euro zone show no signs of abating, leaving the dollar with a yield and policy advantage. ECB President Mario Draghi reiterated that a benign inflation outlook in the euro area warrants continued policy accommodation while in Japan, the BOJ continues to manage its yield curve to keep long-term rates near zero.<\/p>\n<p>In today\u2019s trading, early yen strength sent the dollar-yen to 111.99 even as the greenback rose against other peers, a trade that evolved briefly into broader dollar buying as the dollar-yen rebounded after stop-loss sell orders placed below 112.00 failed to trip, stranding those who had sold in anticipation of a further drop. The subsequent dollar retracement tripped those stop-loss sell orders in a move that quickly inked a fresh low at 111.63.<\/p>\n<ul>\n<li>USD\/JPY now trading ~111.70 after break of technical support at 112.06 from the early February lows and from the Nov. 30 low; a sustained breach below 112.00 may allow a test toward the 100-DMA near 110.00; Japan PM Abe will meet with President Trump in Washington on Friday<\/li>\n<li>Further dollar bids are positioned ~111.60, a trader in London said; the early dollar rebound came after sizable bids cushioned the early drop, said a trader in New York who asked not to be identified because not authorized to speak publicly<\/li>\n<li>EUR\/USD trading at ~1.0750 vs 1.0706 fresh low set as ECB\u2019s Draghi spoke at the European parliament<\/li>\n<li>EUR drop was cushioned by a thicket of bids that extended from 1.0720 to 1.0700, traders in Europe and London said; further buying interest is layered to 1.0680 where stop-loss sell orders are set<\/li>\n<\/ul>\n<p>Source: Bloomberg<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Japanese yen rose versus all of its G-10 peers, driving dollar-yen to its lowest&#8230;<\/p>\n","protected":false},"author":2,"featured_media":1710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[373],"tags":[],"class_list":["post-2892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dollar Pares Gain as Japanese Yen Surges to High Since November - 6 Feb, 2017 -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/arabicfxadvisors.com\/english\/dollar-pares-gain-japanese-yen-surges-high-since-november-6-feb-2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar Pares Gain as Japanese Yen Surges to High Since November - 6 Feb, 2017 -\" \/>\n<meta property=\"og:description\" content=\"The Japanese yen rose versus all of its G-10 peers, driving dollar-yen to its lowest...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/arabicfxadvisors.com\/english\/dollar-pares-gain-japanese-yen-surges-high-since-november-6-feb-2017\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-07T03:20:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/arabicfxadvisors.com\/english\/wp-content\/uploads\/2016\/02\/yen643-1024x683.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Fx Advisor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fx Advisor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/arabicfxadvisors.com\/english\/dollar-pares-gain-japanese-yen-surges-high-since-november-6-feb-2017\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/arabicfxadvisors.com\/english\/dollar-pares-gain-japanese-yen-surges-high-since-november-6-feb-2017\/\"},\"author\":{\"name\":\"Fx Advisor\",\"@id\":\"https:\/\/arabicfxadvisors.com\/english\/#\/schema\/person\/86a15b1444dc3cf22d3943734b86607d\"},\"headline\":\"Dollar Pares Gain as Japanese Yen Surges to High Since November &#8211; 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