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USD/JPY remains quite below 110.00 on USD weakness


  • USD/JPY prints minute gains on Monday the initial Asian trading hours.
  • US Dollar Index slips below 93.00 following Fed’s Powell speech.
  • Lower US Treasury yields augmented the downside for the US dollar.

The USD/JPY pair remains on the higher edge in the Asian session. Despite the weakness in the greenback, USD/JPY manages to trade modestly higher as the Japanese Yen struggles to find demand on the domestic COVID-19 situation.

At the time of writing, USD/JPY is trading at 109.88, up 0.04 % for the day.

The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades below  93.00 with 0.42% losses as investors ditched the USD after FOMC Chair Jerome Powell’s comment.

The US 10-year benchmark Treasury yields trade lower at 1.31% with 2.50% losses.

On the other hand, the Japanese Yen remained on a lower track after the general improved risk sentiment.

Meanwhile, Bank of Japan’s (BOJ) policymaker said the outbreak of COVID-19 infections outpacing the expected pace of economic recovery,

As for now, investors wait for the Japanese Retails sales data, US Pending Home sales data to gauge the market sentiment.

USD/JPY additional levels

 



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