U.S. ECONOMICS: USD/JPY Higher as BOJ Considers Further Rate Cuts, North Korea Tests Nuclear Device (NYSE:DX)


The dollar flew higher against the yen early this morning amid reports that the Bank of Japan is considering further rate cuts, and another nuclear test from North Korea that is reportedly its largest ever. North Korea’s proximity to Japan drove risk-adverse investors into the U.S. dollar and Swiss franc, both of which are trading sharply higher against the yen. USD/JPY was clinging to 102.00 for most of the overnight session, but sprang to life when Japan’s Kyodo news agency said that the BOJ could push rates further into negative territory, and then again when the scope of North Korea’s test circulated world news agencies. USD/JPY last traded with a gain of nearly 0.70% at 102.75.

EUR/USD was wedged in between 1.1260 and 1.1280 for the entire overseas session. An unexpected decline in the German trade surplus registered little reaction in the euro, leaving the joint currency only slightly lower against the dollar at 1.1266. Finally, commodity-based currencies like the Canadian, Australian and New Zealand dollar along with the Norwegian krone are all underperforming in reaction to pressure on precious metals and oil. USD/CAD is higher for a third-straight day and has taken out resistance at the 100-day moving average. AUD/USD slid to a 4-day low of 0.7587 before finding support at its 50-day moving average, but still 0.70% lower against the dollar, while NZD/USD is off 0.60% at 0.7538.

The stock decreased 1.23% or $0.09 on September 13, hitting $7.23. About 148,542 shares traded hands. Dynex Capital Inc (NYSE:DX) has risen 25.34% since February 8, 2016 and is uptrending. It has outperformed by 8.85% the S&P500.

Dynex Capital, Inc. is an internally managed mortgage real estate investment trust, which invests in residential and commercial mortgage securities on a leveraged basis. The company has a market cap of $358.27 million. The Company’s objective is to provide attractive risk-adjusted returns to its shareholders over the long term that is reflective of a leveraged fixed income portfolio with a focus on capital preservation. It currently has negative earnings. It seeks to provide returns to its shareholders through regular quarterly dividends and through capital appreciation.

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