From a calendar perspective, the global financial markets will be off to a slow start this week, with only a few important data releases scheduled. What else is disclosed in the 12 February USDJPY Fundamental Drivers Analysis?
12 February, OctaFX – In North America, the only major data release on the economic calendar is the US Monthly Budget Statement for January. The report is expected to show a budget surplus of $108.8 billion, following a deficit of 23 billion in December.
The US dollar index (DXY) was down at the start of Monday trading, falling 0.2% to 90.22. After last week’s gains, DXY trimmed its year-to-date loss down to 2%.
12 February USDJPY Fundamental Drivers Analysis
For all its gains against other currencies, the dollar fell to fresh five-month lows against the yen last week as prices touched 1.0800 for the first time since September. The yen is clearly benefiting from risk-off sentiment following one of the worst weeks in equities since the financial crisis. The USD/JPY was last seen trading at 108.68, where it was down 0.1% from the previous close.
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