- The dollar recovered part of the ground lost on Wednesday, supported by rising Treasury yields.
- Ahead in the US: weekly report of unemployment benefits, Powell, Philly Fed and consumer confidence.
The USD / JPY is in the 109.00 zone after having reached highs for the day at 109.30. Previously the pair had fallen to 108.62, the lowest level in six days, before rebounding strongly. The dollar gained momentum in the last hours with the rise in yields after the downward correction after the decision of the Federal Reserve on Wednesday.
The US bond’s 10-year benchmark rate surpassed 1.70% on Thursday, for the first time since January last year. This gave support to the dollar. The DXY rose modestly and returned above 91.50, cutting a small part of Wednesday’s losses.
On Thursday the economic calendar is loaded in the US The report of requests for unemployment benefits will be published, and the Philly fed; later the Conference Board consumer confidence report. In addition, Powell will speak at an event at the BIS.
USD / JPY holds range
The USD / JPY again failed to break above the 109.30 zone, which is a key and strong resistance. Leaving that area behind, the pair would be expected to take an upward pace. The uptrend remains strong, although the break at 109.30 is necessary to enable more raises.
In the opposite direction, the first support is seen at 108.70 (current weekly low) followed by 108.30 / 35 (last week’s low) and 107.90.
Technical levels
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