# USD/JPY consolidates near three-week lows, around 108.70 - Forex Crunch

> 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.

- Date: 2019-12-31 · published 2019-12-31T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/55797-usd-jpy-consolidates-near-three-week-lows-around-108-70-forex-crunch
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Dollar weakness tied to trade-deal hopes supports dollar-priced commodities, though the yen move mainly reflects year-end positioning and risk sentiment.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-07-29 | [USD/JPY consolidates below 110.00 ahead of US critical data — Octa](https://feedsoft.ai/events/46299-usd-jpy-consolidates-below-110-00-ahead-of-us-critical-data-octa.md) | -0.3% | +0.4% |
| DXY | 2023-07-10 | [US dollar drops to three-week low as Fed rate hikes nearly done](https://feedsoft.ai/events/9980-us-dollar-drops-to-three-week-low-as-fed-rate-hikes-nearly-done.md) | -1.7% | -0.2% |
| DXY | 2017-01-31 | [Trump Trouble: USD/JPY remains on the back foot - Forex Crunch](https://feedsoft.ai/events/73229-trump-trouble-usd-jpy-remains-on-the-back-foot-forex-crunch.md) | -0.6% | -0.6% |
| DXY | 2021-02-11 | [Dollar slides near two-week lows as Fed pledges low rates](https://feedsoft.ai/events/48817-dollar-slides-near-two-week-lows-as-fed-pledges-low-rates.md) | +0.5% | +1.2% |
| DXY | 2019-12-31 | [USD/JPY hits 19-day low despite steepening of US yield curve - Forex Crunch](https://feedsoft.ai/events/55795-usd-jpy-hits-19-day-low-despite-steepening-of-us-yield-curve-forex-crunch.md) | +0.2% | +0.6% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2019/12/31/usd-jpy-consolidates-near-three-week-lows-around-108-70/

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