Ultimate magazine theme for WordPress.
BTC
$62,688.31
+0.94%
ETH
$4,221.93
+2.07%
LTC
$196.54
+1.48%
DASH
$204.59
-0.2%
XMR
$289.20
+0.8%
NXT
$0.02
-2.21%
ETC
$55.75
+0.05%
DOGE
$0.26
-1.53%
ZEC
$171.12
-0.15%
BTS
$0.05
+3.27%
DGB
$0.05
+0.64%
XRP
$1.11
+2.11%
BTCD
$157.47
+0.94%
PPC
$0.82
-0.43%
CRAIG
$0.01
+0.94%
XBS
$2.32
0%
XPY
$0.01
0%
PRC
$0.00
0%
YBC
$6,480.27
+0.94%
DANK
$0.02
+0.94%

USD/JPY retreats below 110.00 despite rising US T-bond yields


  • USD/JPY rose to a daily high of 110.07 in early American session.
  • 10-year US T-bond yield is up more than 2%.
  • Wall Street’s main indexes are suffering heavy losses.

The USD/JPY pair continued to push higher in the early American session and reached a daily top of 110.07. However, the pair struggled to preserve its bullish momentum and was last seen trading at 109.95, where it was still up 0.25% on the day. On a weekly basis, the pair remains on track to close virtually unchanged for the fifth straight time.

Safe haven flows help JPY find demand

The broad-based USD strength and rising US T-bond yields fueled USD/JPY upside on Friday. The US Dollar Index is currently trading at its strongest level since late August at 93.13 and the benchmark 10-year US T-bond yield is up 3% at 1.379%.

Nevertheless, the risk-averse market environment, as reflected by the sharp decline witnessed in Wall Street’s main indexes, is helping the JPY show some resilience against the USD. Currently, the Nasdaq Composite and the S&P 500 indexes are down 1% and 0.75%, respectively.

Earlier in the day, the data from the US revealed that the University of Michigan’s Consumer Sentiment Index improved modestly to 71 in September from 70.3 in August. This reading missed the market expectation of 72.2 but failed to trigger a noticeable market reaction.

Technical levels to watch for

 

https://fbs.com/?ppk=forexplatform&lang=en

Source link

Comments are closed, but trackbacks and pingbacks are open.