U.S. Dollar Weakens as British Pound Gains 2.589% and JPY Declines 0.192% Since January 17
The U.S. dollar has experienced a broad weakening trend since January 17, 2025, with notable appreciation in several currencies. The British pound (GBP) saw the most significant gain against the dollar, with a return of 2.589%. In contrast, the Japanese yen (JPY) was the weakest performer, depreciating by 0.192%. Other currencies that appreciated against the dollar include the euro (EUR), Chinese yuan (CNH), and Canadian dollar (CAD). Recent data indicated that 1 out of 28 USD crosses had positive returns, while 9 out of 13 EUR crosses performed positively. The Bank of Japan's recent interest rate hike and improved Purchasing Managers' Index (PMI) data from Europe have contributed to these market movements, providing a distraction from U.S. economic events.
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Exante Data
$USD has broadly weakened since last Friday, January 17, with $EUR, $CNH, and $GBP appreciating the most vs. USD. The $GBP was strongest vs. USD with a 2.589% return, while the $JPY was weakest vs. USD with a 0.192% return. #Forex https://t.co/jV9yj2sxCp
- Exante Data
USD has broadly strengthened since 5AM this morning, with $JPY, $CNH, and $AUD depreciating the most vs. USD. The $MXN was strongest vs. USD with a 0.2% return, while the $JPY was weakest vs. USD with a -0.461% return. #Forex https://t.co/F2yhGBBCeK
Kathy Lien Good Morning! 🇺🇸 USD 🔻 mostly lower, US yields dip 🇪🇺 EUR ⬆️ stronger GE PMIs 🇬🇧 GBP ⬆️ stronger PMIs 🇯🇵 JPY 🔻 sells off after hike as BoJ cuts GDP forecasts 🇦🇺 AUD ⬆️ mixed PMIs (mfg ⬆️ svcs🔻) 🇳🇿 NZD ⬆️ shrugs off weaker spending 🇨🇦 CAD ⬆️ higher oil, weaker USD
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