USD / JPY clings to modest daily gains around 108.70

  • USD / JPY is posting modest daily gains on Wednesday.
  • The 10-year US Treasury yield turned positive for the day.

The pair USD/JPY It closed in negative territory on Tuesday amid falling US Treasury yields, but reversed its direction on Wednesday. At time of writing, USD / JPY was up 0.15% on the day at 108.75.

The recovery of US Treasury yields acts as support for the USD

Data released by the US Census Bureau revealed that durable goods orders in February declined 1.1%, compared with analysts’ estimate of a 0.8% increase. Although the initial market reaction to this data was largely subdued, the benchmark 10-year US Treasury yield turned positive early in the US session and helped the dollar gain strength. Currently, the US Dollar Index is up 0.19% on the day at 92.51.

New York Federal Reserve Chairman John Williams will deliver a speech at 17:35 GMT.

Meanwhile, S&P 500 futures are up 0.3% on the day, suggesting the dollar could struggle to outperform rivals if risk flows begin to dominate the markets with US stocks starting the day in territory. positive.

Technical levels

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