The Japanese yen tops the most losing currencies during today’s trading by the Arab trader

The Japanese yen tops the most losing currencies during today’s trading by the Arab trader
The Japanese yen tops the most losing currencies during today’s trading by the Arab trader

© Reuters. The Japanese yen is the most losing currency in today’s trading

Arabictrader.com – topped the losers’ throne, while the Swiss franc came in second place, and the dollar was in third place in terms of losses, and more details in the context of the following report:

Japanese Yen

The Japanese yen fell 5.08% during today’s trading, as the dollar-yen pair continued its daily rise in the early trading hours of the American session and was last seen trading at its strongest level in three years at 114.44, up 0.68% on a daily basis.

The 10-year yield rose sharply

The decisive recovery in the US Treasury yields after a three-day decline seems to be fueling the bullishness of the USD/JPY ahead of the weekend, with the 10-year US Treasury currently up 3.37% on the day at 1.565%.

Meanwhile, upbeat data from the US appears to help the dollar remain resilient against its major rivals. At the moment, the American is posting a small daily gain of 94.02, the US Census Bureau reported on Friday that retail sales in September rose 0.7% month-on-month to $625.4 billion in September, this reading exceeded market expectations for a 0.2% contraction.

Swiss franc

The Swiss franc fell 1.40%, which overshadowed the dollar, as it tested the sell-off of the 55-day moving average at 0.9204K. Karen Jones, Head of FICC Technical Analysis Research at Commerzbank, expects the pair to slide back to the upside. 2020-2021 at 0.9073.

Gains are expected to remain capped at 0.9313 mid-October high.

U.S. dollar

The Japanese yen slipped to its lowest level in three years on Friday and was set for its worst week since March 2020, while the dollar is heading for its first weekly decline against its major peers since the beginning of last month as global risk appetite recovers, and in the cryptocurrency markets, the price of $60,000 for the first time in six months and not far from the highest level in bets that US regulators will approve on a Bitcoin futures trading fund.

The dollar index fell 0.1 percent to 93.9 and fell 0.2 percent during the week, in what would be its first weekly loss in six weeks. The US currency tends to rise as investors seek safety, and global stock markets rebounded this week as concerns about an inflationary economy eased due to corporate earnings that beat expectations in the US.

Analysts said investors who had been long in dollars had been squeezed out of their positions in the past few days, and inflation data did not support an additional rally in the currency.

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Japanese yen tops losing currencies todays trading Arab trader

 
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