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Is the Dramatic Yen Short Squeeze Over?

July 26, 2024
Overview:  The powerful yen short squeeze that has roiled the capital market this week has stalled today. It is the first day this week that the dollar has not fallen below the previous day's low and has risen, though slightly, above previous session's high. The Antipodeans and Scandis are trading with a firmer bias. The yen and Swiss fran…
Is the Dramatic Yen Short Squeeze Over? Is the Dramatic Yen Short Squeeze Over? Reviewed by Marc Chandler on July 26, 2024 Rating: 5
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Yen's Surge Continues, while PBOC Surprises with Another Rate Cut, and US 2-30 Year Yield Curve Ends Inversion Yen's Surge Continues, while PBOC Surprises with Another Rate Cut, and US 2-30 Year Yield Curve Ends Inversion Reviewed by Marc Chandler on July 25, 2024 Rating: 5
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Greenback and Yen Extend Gains

July 24, 2024
Overview: The dollar's gains have been extended today, but in the risk-off mode, and unwinding of carry positions, the Japanese yen and Swiss franc are firmer.  the dollar has stabilized in late European morning turnover. The Bank of Canada is widely expected to cut rates today and the greenback is pushing against CAD1.38, which it has not tra…
Greenback and Yen Extend Gains Greenback and Yen Extend Gains Reviewed by Marc Chandler on July 24, 2024 Rating: 5
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Short Covering Squeezes the Yen Higher

July 23, 2024
Overview: The US dollar is firmer against all the G10 currencies but the Japanese yen. Local reports and the price action are consistent with short covering of the previously sold yen positions ostensibly ahead of next week's BOJ and FOMC meetings. Still, the greenback is holding above last week's low, slightly below JPY155.40. The Antipod…
Short Covering Squeezes the Yen Higher Short Covering Squeezes the Yen Higher Reviewed by Marc Chandler on July 23, 2024 Rating: 5
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Dollar Mixed as Markets Digest US Political Developments

July 22, 2024
Overview: News that President Biden will not seek re-election has left investors unsure of the next step, but PredictIt.org still points to a Trump advantage of slightly better than 60-40. It is not clear yet whether Vice-President Harris will be challenged for the nomination. The dollar is mixed against the G10 currencies, with the dollar bloc an…
Dollar Mixed as Markets Digest US Political Developments Dollar Mixed as Markets Digest US Political Developments Reviewed by Marc Chandler on July 22, 2024 Rating: 5
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Week Ahead: US Dollar to Extend Recovery while Stocks Correct Lower

July 20, 2024
The consolidative phase for the dollar, we anticipated last week, after its recent drop, is evolving into a proper upside correction. We expect the dollar to trade broadly firmer over the next week or so. It is also part of a larger picture, where US interest rates also look to have put in a near-term bottom and are set to recover. Ideas that next…
Week Ahead: US Dollar to Extend Recovery while Stocks Correct Lower Week Ahead: US Dollar to Extend Recovery while Stocks Correct Lower Reviewed by Marc Chandler on July 20, 2024 Rating: 5
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Dollar Consolidation is Morphing into Correction

July 19, 2024
Jury duty assignment prevents a more comprehensive note, but here is a snapshot. Overview: The failure of computer systems has disrupted airlines, banks, media companies, and the London Stock Exchange, ostensibly stemming from an update from a third-party software update, according to Microsoft. The dollar is trading with a firmer bias. The consol…
Dollar Consolidation is Morphing into Correction Dollar Consolidation is Morphing into Correction Reviewed by Marc Chandler on July 19, 2024 Rating: 5
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Euro Trades Quietly Ahead of ECB Meeting

July 18, 2024
Jury duty assignment prevents a more comprehensive note, but here is a snapshot. Overview: The US dollar enjoys a firmer bias today, in mostly quiet turnover in narrow ranges. The Australian dollar is a noted exception, and the better than expected jobs growth may have lent it some resilience today. The greenback initially was sold to almost JPY15…
Euro Trades Quietly Ahead of ECB Meeting Euro Trades Quietly Ahead of ECB Meeting Reviewed by Marc Chandler on July 18, 2024 Rating: 5
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Dollar Crushed, Stocks Slump

July 17, 2024
Jury duty assignment prevents a more comprehensive note, but here is a snapshot. Overview: The dollar is broadly lower, and stocks are under pressure. Comments by a Japanese official, which did not appear to break new ground, coupled with Trump's interview in BusinessWeek, where he was critical that Japan was benefiting from a weak yen, despit…
Dollar Crushed, Stocks Slump Dollar Crushed, Stocks Slump Reviewed by Marc Chandler on July 17, 2024 Rating: 5
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