{"id":3368,"date":"2017-05-05T04:04:24","date_gmt":"2017-05-05T04:04:24","guid":{"rendered":"http:\/\/arabicfxadvisors.com\/english\/?p=3368"},"modified":"2017-05-05T04:04:24","modified_gmt":"2017-05-05T04:04:24","slug":"dollar-rallies-six-week-high-yen-fomc-signal-4-may-2017","status":"publish","type":"post","link":"https:\/\/arabicfxadvisors.com\/english\/dollar-rallies-six-week-high-yen-fomc-signal-4-may-2017\/","title":{"rendered":"Dollar Rallies to Six-Week High Against Yen After FOMC Signal &#8211; 4 May, 2017"},"content":{"rendered":"<p>The dollar extended Wednesday\u2019s gains after the Federal Reserve viewed that the recent soft U.S. economic data is transitory, boosting prospects of a June interest rate hike.<\/p>\n<p>Real-money accounts bought dollars against the yen, sending Japan\u2019s currency to a six-week low,\u00a0according to a foreign-exchange trader who asked not to be named as they are not authorized to speak to the media. The advance wasn\u2019t enough to take out exporter dollar sales\u00a0from Tokyo corporates who left their orders over the Golden Week holidays, the trader said. Australia\u2019s dollar erased losses after Reserve Bank Governor Philip Lowe said \u201cat some point, interest rates in Australia will increase.\u201d<\/p>\n<p>U.S. overnight interest swaps showed the odds of a June rate hike increased to 80 percent, up from around 65 percent a week ago. Ten-year U.S. yields climbed 4 basis points Wednesday. The Treasury market is closed in Asia due to the Japanese holidays.<\/p>\n<p>\u201cThe dollar rally post-FOMC is justified by the ratcheting up of June Fed rate hike expectations,\u201d Ray Attrill, global co-head of foreign exchange at National Australia Bank Ltd. in Sydney, wrote in a note. The dollar\u2019s rally has \u201clegs\u201d but not against the euro due to the French election results on Monday, he wrote, adding that dollar bulls are better off expressing their views against commodity currencies for the time being.<\/p>\n<ul>\n<li>AUD\/USD rebounds on Lowe\u2019s comments after earlier hitting a 4-month low of 0.7407 on disappointing March trade surplus and sliding commodity prices\n<ul>\n<li>Lowe said household debt rising faster than incomes has left the economy in a weaker position and reminded borrowers that rates will one day rise<\/li>\n<li>Australia\u2019s March trade surplus came in at A$3.1b, missing the A$3.25b median survey estimate<\/li>\n<\/ul>\n<\/li>\n<li>USD\/JPY pares gains to 112.79 after posting a six-week high of 112.89\n<ul>\n<li>Japanese exporters left sell orders just above the 112.87 Ichimoku cloud over the Golden Week holidays, a trader says<\/li>\n<\/ul>\n<\/li>\n<li>EUR\/USD is firmer by 0.1% at 1.0892<\/li>\n<li>Bloomberg Dollar Spot Index is steady at 1,220.77 after rising 0.4% Wednesday<\/li>\n<\/ul>\n<p>Source: Bloomberg<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dollar extended Wednesday\u2019s gains after the Federal Reserve viewed that the recent soft U.S&#8230;.<\/p>\n","protected":false},"author":2,"featured_media":1678,"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-3368","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 Rallies to Six-Week High Against Yen After FOMC Signal - 4 May, 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-rallies-six-week-high-yen-fomc-signal-4-may-2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar Rallies to Six-Week High Against Yen After FOMC Signal - 4 May, 2017 -\" \/>\n<meta property=\"og:description\" content=\"The dollar extended Wednesday\u2019s gains after the Federal Reserve viewed that the recent soft U.S....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/arabicfxadvisors.com\/english\/dollar-rallies-six-week-high-yen-fomc-signal-4-may-2017\/\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-05T04:04:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/arabicfxadvisors.com\/english\/wp-content\/uploads\/2016\/02\/usd532-1024x768.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\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-rallies-six-week-high-yen-fomc-signal-4-may-2017\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/arabicfxadvisors.com\/english\/dollar-rallies-six-week-high-yen-fomc-signal-4-may-2017\/\"},\"author\":{\"name\":\"Fx Advisor\",\"@id\":\"https:\/\/arabicfxadvisors.com\/english\/#\/schema\/person\/86a15b1444dc3cf22d3943734b86607d\"},\"headline\":\"Dollar Rallies to Six-Week High Against Yen After FOMC Signal &#8211; 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