No official report or news is explaining the decrease of the Japanese Yen against the US Dollar. Most likely, the US Dollar depreciated massively in value, as starting the New Year there was a massive selling in the US stock markets. When US stocks are sold, the sellers are left with a significant amount of USD. Those funds then dilute the market, as there is more of the currency available.
If you still have any questions regarding the USD/JPY rate fall, please feel free to contact Dukascopy Analytical Department via email at [email protected].
Also, make sure to check out our YouTube page where you can find more explanatory videos of macroeconomic event impact on different currency pairs discussed during the Week's Economic Calendar Review.
Weekly Webinar Economic Calendar Analysis