Published:
Friday was a quiet day in markets for the most part, but there was one big move that raised eyebrows: Late in the New York morning, the U.S. dollar suddenly cratered against the Japanese yen.
The move quickly spilled over into other currency pairs, as the dollar was dragged lower against the euro
EURUSD, British pound GBPUSD, Swiss franc USDCHF and other rivals. The weakness persisted all afternoon; in recent trade, the dollar was off 1.7% at 155.71 yen USDJPY, its weakest level in about a month, FactSet data showed. Prior to this, the dollar had been trading at its strongest level against the yen in 18 months.
