The negative tendencies in some of the main indicators of the US economic health depressed demand for the Dollar.
The actual employment change as calculated by the ADP turned out to be lower than expected, and the US Dollar was only the fourth best-performing currency on Wednesday.
The demand for the US Dollar was depressed on Feb 3, as the factory orders contracted more than the market on average expected.
The US Dollar felt the negative impact of the disappointing ISM Manufacturing PMI, depreciating relative to four out of seven currencies.
Despite the disappointing data the US Dollar fared relatively well in the forex market, advancing 0.92% versus its Canadian counterpart and 0.31% versus the Euro.
In USD/JPY, GBP/JPY and EUR/JPY pairs the Japanese Yen closed in red yesterday, as the fundamentals did not favour a recovery of the currency.
After poor performance recorded on Wednesday, the greenback appreciated against all its major counterparts except for the Yen (-0.28%) on the day of the FOMC Statement.
The US Dollar underperformed all the major currencies, staying unchanged only against the Swiss Franc.
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%).
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.