{"id":55106,"date":"2013-05-30T08:12:02","date_gmt":"2013-05-30T08:12:02","guid":{"rendered":"https:\/\/armbanks.am\/2013\/05\/30\/238523\/"},"modified":"2024-12-15T13:04:54","modified_gmt":"2024-12-15T13:04:54","slug":"u-s-dollar-drops-sharply-versus-euro-yen-marketwatch","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2013\/05\/30\/55106\/","title":{"rendered":"U.S. dollar drops sharply versus euro, yen: Marketwatch"},"content":{"rendered":"<p><strong>YEREVAN, May 30. \/ARKA\/.\u00a0<\/strong> The dollar fell sharply against major rivals Wednesday, giving up the previous day\u2019s gains made against the yen, in a round of apparent profit-taking.<\/p>\n<p>The dollar USDJPY -0.48% traded in recent action at \u00a5101.10, down from around \u00a5102.31 late Tuesday but near Monday\u2019s level of \u00a5101.09.<\/p>\n<p>The dollar during Tuesday\u2019s session snapped a three-session losing streak against the yen.<br \/>\n\u201cThere\u2019s a big shift. A lot of that shift came leading into the North American open and really just seemed to be flow-based,\u201d said Camilla Sutton, chief foreign-exchange strategist at Scotiabank. \u201cMost currencies have retraced their weaknesses; over-long positions are just being unwound,\u201d she said. A long position on a currency assumes the currency will rise.<\/p>\n<p>Movement on Wednesday was prompted by technical aspects \u2014 such as traders correcting positions \u2014 rather than by economic data. U.S. data have been a key driver in financial markets as strong data lend support for a potential tapering of the Federal Reserve\u2019s monetary easing. The Fed currently buys $85 billion a month in mortgage and Treasury debt.<\/p>\n<p>Eric Rosengren, president of the Federal Reserve Bank of Boston, said Wednesday a modest reduction in the pace of quantitative easing would make sense after a few more months of improvement. Quantitative easing is understood to weigh on the dollar.<\/p>\n<p>The ICE dollar index DXY -0.23% , which measures the greenback\u2019s performance against six other major currencies, exchanged hands at 83.68 in recent action compared to 84.266 Tuesday.<br \/>\nThe WSJ Dollar Index XX:BUXX -0.29% , a gauge of the currency\u2019s moves against a slightly wider basket, slid to 75.27 from Tuesday\u2019s 75.84.<\/p>\n<p>On Wall Street Wednesday, U.S. stocks fell sharply, with the Dow industrials DJIA -0.69%\u00a0 retreating from a record closing high.<\/p>\n<p>Benchmark 10-year Treasury yields 10_YEAR +0.14%\u00a0 slipped to 2.14%; they had risen to a 13-month high in the previous session following strong economic data.<br \/>\n\u201cWe\u2019re going to see some price movements that really don\u2019t make sense because we\u2019re coming up to month\u2019s end,\u201d said Dean Popplewell, chief currency strategist at Oanda Corp. \u20130&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dollar fell sharply against major rivals Wednesday, giving up the previous day\u2019s gains made against the yen, in a round of apparent profit-taking<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12159,9216],"tags":[15750,12757,13021],"class_list":{"0":"post-55106","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-exchange-market","7":"category-news","8":"tag-dollar-2","9":"tag-usa","10":"tag-sold"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/55106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=55106"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/55106\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=55106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=55106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=55106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}