Yen Gains Most in Four Weeks on Exporter Buying, Stock Advance

The yen rose the most in four weeks against the dollar on speculation some of the nation’s exporters took advantage of its declines to convert overseas earnings back into their own currency.

The Japanese currency, which dropped for four straight days last week, also gained versus the euro, pound and Swiss franc as Asian stocks advanced. The South Korean won traded at a 15-month high against the dollar. The U.S. currency fell, trading at its lowest level in almost three weeks versus the euro earlier, as traders pared bets on the outlook for interest-rate increases by the Federal Reserve.

Bloomberg

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell