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USD/JPY held near 108.70 after touching three-week lows at 108.61 in Asia amid broad dollar weakness and falling global equities. Year-end profit-taking lifted demand for the safe-haven yen, and hopes for a US-China trade deal signing continued to weigh on the dollar.
Dollar weakness tied to trade-deal hopes supports dollar-priced commodities, though the yen move mainly reflects year-end positioning and risk sentiment.
forexcrunch.comFX StreetDec 31, 2019Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
