# Dollar, yen gain as Trump's positive COVID test sparks haven buying

> The yen and dollar gained after President Trump announced a positive COVID-19 test, prompting safe-haven buying. Markets calmed by afternoon, and the yen reached a one-week high of 104.95 per dollar before steadying.

- Date: 2020-10-02 · published 2020-10-02T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/50868-dollar-yen-gain-as-trump-s-positive-covid-test-sparks-haven-buying
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Safe-haven flows strengthened the yen against the dollar, which tends to reduce the yen cost of dollar-priced feed imports. The move faded quickly, so the effect on grain and feed prices was limited.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-01-31 | [Dollar slips amid Trump's hardening policy defence, yen benefits](https://feedsoft.ai/events/73198-dollar-slips-amid-trump-s-hardening-policy-defence-yen-benefits.md) | -0.6% | -0.6% |
| DXY | 2022-11-04 | [Canadian dollar posts biggest gain in 12 years as jobs surge](https://feedsoft.ai/events/38913-canadian-dollar-posts-biggest-gain-in-12-years-as-jobs-surge.md) | -2.7% | -4.3% |
| DXY | 2020-07-24 | [Dollar slump continue on US economic worries, safe-haven yen gains](https://feedsoft.ai/events/52343-dollar-slump-continue-on-us-economic-worries-safe-haven-yen-gains.md) | -0.6% | -1.1% |
| DXY | 2023-12-28 | [Dollar falls against yen, gains on euro in choppy trading](https://feedsoft.ai/events/32900-dollar-falls-against-yen-gains-on-euro-in-choppy-trading.md) | +1.0% | +1.8% |
| DXY | 2017-01-30 | [Dollar drops vs yen as investors react to Trump travel ban](https://feedsoft.ai/events/73206-dollar-drops-vs-yen-as-investors-react-to-trump-travel-ban.md) | -1.2% | -1.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/10/02/forex-markets-coronavirus.html

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