Showing posts with the label Currency Report

FX I Currency Report: Dollar recovers as strong US data soothes market nerves

3 minutes - Source: CNBC The dollar recovered from early weakness against the safe-haven yen as better-than-expected U.S. retail sales data on Thursday eased fears that the U.S. economy could be headed for a recession. The Japanese yen, which tends to benefit during geopolitical or financial stress as Japan is the world’s biggest creditor nation, has strengthened about 0.3% against the dollar this week as investors reached for safety. The yen started the day strong against the dollar as investors fretted over this week’s economic data from China and Germany that revealed the extent of the damage the China-U.S. trade dispute is causing to the world economy. The Japanese currency advanced sharply against the greenback on Wednesday after the first inversion in the U.S. Treasury yield curve in 12 years sparked heightened fears of an imminent end to the longest economic expansion in U.S. history. However, the yen retreated against the green