The Japanese Yen retraced recent gains against the US Dollar on Thursday, as markets moved past midterm election uncertainty and returned focus to strong US economic fundamentals.
The yen gave back most of its previous gains on Thursday as the dollar rebounded after the US midterm election shock faded and strong US macroeconomic data returned to focus. That directly supports USD/JPY, since a stronger dollar against a weaker yen lifts the pair. The article describes a partial retracement rather than a full reversal.
Because the Japanese yen gave back most of its previous gains while the US dollar recovered as election-related uncertainty faded and strong US data came into focus.
No, the article says the yen gave away most of the previous gains, not all of them.
The Japanese Yen surrendered the majority of its recent gains on Thursday as the US Dollar staged a recovery. Market sentiment shifted as the initial shock from US midterm elections subsided, allowing investors to refocus on robust domestic macroeconomic data.
The pair is rising because the Japanese Yen gave back most of its previous gains while the US Dollar recovered as election-related uncertainty faded and strong US data came into focus.
No, the Yen has only given back most of its previous gains, not all of them, indicating a partial retracement rather than a complete reversal.