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The yen rose to its highest level against the dollar since November 2016 on safe-haven demand and weak Japanese data. Japan's fourth-quarter 2017 GDP grew 0.1% quarter on quarter, below the expected 0.2%, and 0.5% year on year, below the forecast 1%.
USD/JPY fell to around 107 as stocks in Japan and Asia declined.
Weak Japanese growth and safe-haven flows weakened the dollar, a mild bullish signal for dollar-priced commodities. Traders were also awaiting US inflation data that could affect Fed rate-hike expectations.
economies.comRami HaddadFeb 14, 2018After 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.
Not 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.
