|Bid||86.40 x 3900|
|Ask||86.41 x 2000|
|Day's Range||86.40 - 86.40|
|52 Week Range||83.39 - 89.29|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.40%|
The Japanese yen (JYN) was the only major currency that was unable to benefit from the weakness in the US dollar (UUP), although that trend changed during the week ended January 12. During the week, the yen (FXY) closed at 111.04 against the US dollar (UUP), compared to 113.08 in the week ended January 5, appreciating by 1.8%. The boost to the yen came from the US dollar’s weakness and the comments from Bank of Japan governor Haruhiko Kuroda, who expressed confidence about the Japanese economy.
Speculation is rife that the trade tension between the U.S. and China will increase this year. First, the latest Blomberg report states that China may slow down, or even stop, the purchase of U.S. government bonds, citing that U.S. debt has become less attractive than other assets. Since China is the biggest buyer of U.S. sovereign bonds holding $1.2 trillion of U.S. debt, the action could lead to a broad sell-off in the equity markets.
The Japanese yen (JYN) is the only currency that is unable to capture the weakness in the US dollar (UUP). For the week ended January 5, 2018, the Japanese yen (FXY) closed at 113.09 against the US dollar (UUP) compared to 112.69 in the previous week, depreciating 0.35%. The Japanese markets were closed three days last week, and no economic data were reported.
For the week ended December 15, the Japanese yen (FXY) closed at 112.58 against the US dollar (UUP), appreciating by 0.79%.
According to Reuters, the US dollar (USDU) net short positions increased to ~-$7.8 billion during the week ended December 15 compared to ~-$4.3 billion in the previous week.
The US Dollar Index (UUP) continued its ascent against the other major currencies as investors positioned for a rate hike from the Fed and reacted to the increased possibility of tax reforms by the end ...
The US Dollar Index (UUP) had another bad week as traders offloaded long dollar positions amid tax reform uncertainty last week.
The US dollar index (UUP) remained supported last week despite a dovish FOMC statement and a lower-than-expected rise in monthly non-farm payrolls.
Since the Japanese election results, the Japanese yen has depreciated. The Bank of Japan is expected to continue the accommodative policy.
Japanese Prime Minister Shinzo Abe’s call for an early election worked in his favor. He called for a snap election to take advantage of his high ratings.
At its October policy meeting, the Bank of Japan left its ultra-loose monetary policy unchanged. The decision was made by an 8-1 majority vote.