# Early trade in New York: Dollar, yen dip on month-end rebalancing - Business & Finance - Business Recorder

> The dollar dropped on Friday as investors rebalanced portfolios at month-end, while the yen fell to its weakest level since mid-November at 104.76 per dollar. The dollar index fell 0.15% to 90.421 after rising about 1.3% from a three-year low reached on January 6. Bitcoin also rose sharply after Elon Musk referenced it in his Twitter biography.

- Date: 2021-01-29 · published 2021-01-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/49395-early-trade-in-new-york-dollar-yen-dip-on-month-end-rebalancing-business-and
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Month-end rebalancing moves are usually short-lived and have little lasting effect on dollar-priced grain or meal values. A weaker dollar would modestly support US commodity prices, while yen weakness raises Japan's import costs.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-04-30 | [Dollar steadies in Europe - Business & Finance - Business Recorder](https://feedsoft.ai/events/47821-dollar-steadies-in-europe-business-and-finance-business-recorder.md) | +0.1% | -0.8% |
| DXY | 2020-06-09 | [Dollar wallows ahead of Fed meeting, yen resilient - Business & Finance - Business Recorder](https://feedsoft.ai/events/52852-dollar-wallows-ahead-of-fed-meeting-yen-resilient-business-and-finance-business.md) | +1.1% | +0.8% |
| DXY | 2021-07-30 | [Dollar at 1-month low after Fed knock; US data disappoints - Business & Finance - Business Recorder](https://feedsoft.ai/events/46246-dollar-at-1-month-low-after-fed-knock-us-data-disappoints-business-and-finance.md) | +0.3% | +1.2% |
| DXY | 2020-07-31 | [Dollar extends dramatic fall in European trade - Markets - Business Recorder](https://feedsoft.ai/events/52332-dollar-extends-dramatic-fall-in-european-trade-markets-business-recorder.md) | -0.3% | -0.6% |
| DXY | 2020-06-10 | [Dollar slumps to three-month lows on Fed easing speculation - Markets - Business Recorder](https://feedsoft.ai/events/52808-dollar-slumps-to-three-month-lows-on-fed-easing-speculation-markets-business.md) | +0.8% | +0.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40057863

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.