Despite the disappointing data released on Friday, the US Dollar was the second best performing currency among the majors, losing solely to the Japanese Yen (-0.61%).
The demand for the Yen appeared to be strong yesterday, as the currency appreciated relative to all its main counterparts but two (USD and CAD).
The Japanese outperformed all its major counterparts except for the Swiss Franc yesterday.
The US Dollar performed relatively well yesterday, even though the Housing Market Index came out lower than expected.
Following its poor performance on Friday the Yen pared some of the losses on Monday, advancing 2.49% against the Franc, 0.24% against the Aussie and 0.23% against the Sterling.
The Yen turned out to be the second worst performer on Friday, giving up as much as 1.35% of its value against the Aussie and 1.20% against the US Dollar.
The Yen appreciated relative to most of its counterparts amid the risk-off sentiment.
For the time being the Yen does not exhibit sensitivity to the Japanese data, as the risk-off sentiment continues to be the major factor in the market.
Yesterday the Yen appreciated at the expense of all its major counterparts amid the flight to quality.
Despite Friday bringing a plethora of good news regarding the state of the US economy, particularly regarding the improving labour market, the US Dollar appeared among the worst performers, advancing only against its Canadian counterpart (+0.3%) and losing nearly a whole percent relative to the Japanese Yen and the Aussie.
Despite Friday bringing a plethora of good news regarding the state of the US economy, particularly regarding the improving labour market, the US Dollar appeared among the worst performers, advancing only against its Canadian counterpart (+0.3%) and losing nearly a whole percent relative to the Japanese Yen and the Aussie.
The only currencies that ourperformed the US Dollar were the Aussie and the kiwi, as investors are becoming more confident regarding the Asia-Pacific region.
The demand for the US Dollar was been increased lately - the currency gained 0.73% against the Yen and 0.43% aganst the Euro, as the fundamental surprised to the upside.
The US Dollar turned out to be resilient to the negative data, underperforming only relative to the Yen (-1.04%) and to the New Zealand Dollar (-0.97%).
The US Dollar was not among the main movers yesterday due to a lack of fundamental data, rising 0.58% versus the Euro and at the same time losing 0.71% against the Yen.
After performing poorly on Wednesday the US Dollar outperformed all of its major counterparts, jumping 1.65% versus Sterling and 1.50% versus loonie, even though the fundamentals did not favour the currency.
The US Dollar was the worst performer of Thursday behind the New Zealand Dollar, though we must note the depreciation was minimal, -0.12% versus the Aussie and -0.09% versus the loonie.
Although Tuesday's data revealed the US economy keeps recovering, the market turned out to be somewhat disappointed with the numbers and sold the US Dollar off.
Overall the Japanese Yen preserves the bearish momentum, as it is losing value against the majority of its counterparts.
The Japanese was able to appreciate only relative to the Euro and the Swiss Franc, falling behind the rest of the majors after a series of disappointing news on Thursday.
Regardless of the unfavourable macroeconomic bacground the Japanese Yen was the most bullish currency among the majors.
The Yen was the main loser of Wednesday, falling as much as 0.62% against the Loonie and 0.53% versus USD.
The US Dollar has started this week much better than the last week, as it has gained against the Japanese Yen.
After the bearish performance by the US Dollar at beginning of the week, it managed to recover and it posted gains versus the Japanese peer.