{"id":102747,"date":"2020-08-04T04:42:59","date_gmt":"2020-08-04T08:42:59","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=102747"},"modified":"2020-08-04T11:28:18","modified_gmt":"2020-08-04T15:28:18","slug":"103761-dollar-short-squeeze-in-progress","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103761-dollar-short-squeeze-in-progress\/","title":{"rendered":"Dollar Short-Squeeze in Progress"},"content":{"rendered":"<ul>\n<li><span style=\"font-weight: 400\">DXY up 0.4 Percent<\/span><\/li>\n<li><span style=\"font-weight: 400\">Euro\/USD near 1.17<\/span><\/li>\n<li><span style=\"font-weight: 400\">Yen rally slows down<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The crowding of short-side positions against the US dollar in favour of other currencies resulted in a short-squeeze, pushing the greenback higher; the dollar index, DXY, posted a 0.4 Percent gain on Monday.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The continued tension between the US and China also helped in the dollar bounce.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The safe-haven appeal of the currency aided it to gain some ground after being hit by an avalanche of selling in recent weeks, even clocking the weakest monthly, 4 Percent down in July, performance in a decade.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The dollar is down 10 Percent from its March highs, DXY data shows.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Apart from the waning of safe-haven appeal, observers note that expectations of additional easing of the US monetary policy, weak bond-yields, and the inability of lawmakers to reach an agreement on further fiscal stimulus are reasons for the US dollar weakness.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Traders expect a further weakening of the currency as the fundamental and technical factors driving the downside is still in vogue.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The short interest has built-up to 24.27 billion US dollars, based on the figures released by the US Commodity Futures Trading Commission.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Considering the widely held expectations on the downside and the usual risk-off behaviors in August every year, some analysts and traders are expecting the revival of US dollar fortunes. They are counting on the rising geopolitical tensions; also the stretched rally in risky assets in recent months to subside.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The dollar has gained against the Japanese Yen and pushed past the 106 Yen-to-a-dollar levels. The rise on Monday was on the heels of the most significant daily increase since March against Yen.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Yen had posted substantial gains in July at the expense of the US dollar &#8211; a 3 Percent rally; prompting Japanese Finance Minister Taro Aso to signal his concerns that it could hurt the export-led economy already in recession.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DXY up 0.4 Percent Euro\/USD near 1.17 Yen rally slows down The crowding of short-side positions against the US dollar in favour of other currencies resulted in a short-squeeze, pushing the greenback higher; the dollar index, DXY, posted a 0.4 Percent gain on Monday. The continued tension between the US and China also helped in [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":11494,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2675,1381],"tags":[],"class_list":{"0":"post-102747","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jpy","8":"category-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dollar Short-Squeeze in Progress - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103761-dollar-short-squeeze-in-progress\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103761-dollar-short-squeeze-in-progress\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103761-dollar-short-squeeze-in-progress\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"Dollar Short-Squeeze in Progress\",\"datePublished\":\"2020-08-04T08:42:59+00:00\",\"dateModified\":\"2020-08-04T15:28:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103761-dollar-short-squeeze-in-progress\\\/\"},\"wordCount\":310,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103761-dollar-short-squeeze-in-progress\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/strong-dollar-definition.jpg\",\"articleSection\":[\"JPY\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103761-dollar-short-squeeze-in-progress\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103761-dollar-short-squeeze-in-progress\\\/\",\"name\":\"Dollar Short-Squeeze in Progress - 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