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The dollar traded lower against major rivals on January 3 after Apple warned of weak China sales, which sparked a safe-haven surge in the yen. The dollar fell to 104.79 yen in what analysts described as a flash crash in thin trading.
Analysts linked the move to a shortage of liquidity and aggressive short-yen positioning.
The move was driven by thin liquidity and positioning rather than new fundamentals, so the feed commodity impact is small. It does reflect fears of slower global growth that could weigh on demand expectations.
marketwatch.comWilliam WattsJan 3, 2019Not enough comparable past events yet for a historical read.
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.
