I only trade EUR/USD or USD/CHF so I have to ask this question ( and I hope this is the best forum for it.)
Why did the Japanese yen weaken when the US dollar was weakened on 12/12/2012? When I see anything that will weaken the US Dollar I know that USD/CHF will go down, which is what happened yesterday. But USD/JPY should also go down, too, but it goes up a lot. The Dollar Index went down on the news of QE4, so I don't understand why USD/JPY did not also go down also. And yes I know that the DX is weighted against a bunch of currencies.
Is there some variable I am missing?
Why did the Japanese yen weaken when the US dollar was weakened on 12/12/2012? When I see anything that will weaken the US Dollar I know that USD/CHF will go down, which is what happened yesterday. But USD/JPY should also go down, too, but it goes up a lot. The Dollar Index went down on the news of QE4, so I don't understand why USD/JPY did not also go down also. And yes I know that the DX is weighted against a bunch of currencies.
Is there some variable I am missing?