Jan 10 2014
Dollar decrease in value-Forecast Amounts Gain Trims Fed View
“The employment report turned out to be the largest headwind of the year for the very large short position in yen,” Neil Azous, founder of Rare view Macro LLC, a Stamford, Connecticut-based advisory and research firm, said in an interview referring to bets the yen would decrease in value. The dollar had the biggest weekly drop against the yen in almost three months as U.S. payrolls rose less than forecast in December, fueling concern the Federal Reserve will slow reduction in bond-buying.
“The theme to start the year has been a stronger yen and lower U.S. Yields.”
It touched 105.44 on Jan. 2, the strongest since October 2008. The dollar fell 0.7 percent to 104.18 yen this week in New York, the biggest drop since the five days eneded Oct. 18. The U.S. currency weakened 0.6 percent to $1.3670 per euro. The yen added 0.1 percent to 142.39 per euro.