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US Dollar Declines to November Low, Japanese Yen Strengthens

US Dollar Declines to November Low, Japanese Yen Strengthens

US dollar Declines In recent developments within the currency markets. As there has been a notable softening of it, reaching its lowest point for November. The Bloomberg Dollar Spot Index (BBDXY), which gauges the performance of the US dollar against a basket of major currencies, has descended to its monthly nadir.


  1. US Dollar Weakens: The US dollar softens to its lowest point for November, according to the Bloomberg Dollar Spot Index.
  2. Japanese Yen Gains: Amid market rebalancing, the Japanese yen appreciates, with the USD/JPY pair recovering marginally from ¥148.
  3. Bond Market Changes: Treasury yields see a modest increase, while equity futures decline slightly, signaling a cautious start to trading.
  4. Australian Dollar Strength: The Australian dollar surpasses its August high, aiming for the 61.8% retracement level, while the New Zealand dollar remains stable.

AS US Dollar Declines Japanese Yen Appreciates as USD/JPY Recovers

AS US Dollar Declines, the Japanese yen has experienced appreciation amid market rebalancing. The USD/JPY pair initially declined to ¥148 but subsequently demonstrated a marginal recovery to ¥148.20/25. This movement follows the currency pair’s low on November 21 at ¥147.15, with existing resistance observed in the vicinity of the 20-day Exponential Moving Average (EMA) at ¥149.94.

In the bond market, there has been a modest increase in Treasury yields. Simultaneously, equity futures have exhibited a slight decline, signaling a cautious start to the trading session.

Also Read: Australian Retail Sales Faced Strong Contractions

AUD Strength Surpasses High, NZD Stable: G-10 Currencies Show Limited Fluctuations”

The Australian dollar has exhibited noteworthy strength, surpassing the high recorded on August 10 at $0.6616. Its current target is the 61.8% retracement level at $0.6656. In contrast, the New Zealand dollar has displayed greater stability, oscillating within a narrow range around $0.61.

Other G-10 currencies have shown limited fluctuations, particularly as Europe faces a subdued economic agenda for the day. Investors and traders are closely monitoring these shifts, recognizing that currency values can serve as indicators of broader economic trends and investor sentiment.


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