Japanese Yen Mar '20 (J6H20)
Japanese Yen Futures Market News and Commentary
The dollar index (DXY00) on Thursday fell -0.481 (-0.49%). Mar euro-fx futures (E6H0) closed up +0.0087 (+0.79%), and EUR/USD (^EURUSD) rose +0.0102 (+0.94%). Mar yen futures (J6H0) closed up +0.22 (+0.24%), and USD/JPY (^USDJPY) fell -0.43 (-0.39%).
The dollar index on Thursday tumbled to a 3-week low on speculation the widening of the China coronavirus epidemic will force the Fed to cut interest rates. Also, the slump in stocks on Thursday boosted the safe-haven demand for the yen.
The 10-year T-note yield on Thursday dropped to a new record low of 1.241%, which weakened the dollar's interest rate differentials.
U.S. economic data on Thursday was mixed for the dollar. Weekly initial unemployment claims rose +8,000 to 219,000, showing a weaker labor market than expectations for a small rise to 212,000. Conversely, Jan core capital goods new orders (ex-defense and aircraft) rose +1.1%, stronger than expectations of +0.1%, and the largest increase in a year. Also... Read more
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