- USD / JPY experienced a modest rebound and erased its daily losses.
- The US Dollar Index remains in negative territory below 90.50.
- The yield on 10-year US Treasuries rose nearly 5% on Wednesday.
The pair USD/JPY It spent European trading hours in a tight range around 103.50 and was down early in the US session amid renewed USD weakness. However, rising US Treasury yields helped the pair rally in the last hour and USD / JPY was flat on the day near 103.60.
Eyes on the Brexit headlines
Reports suggesting that the UK and the EU were closing a deal triggered a strong rally in the GBP / USD pair and caused the USD to weaken against its main rivals. The US dollar index, which rose to a daily high of 90.58, turned south and fell to a daily low of 90.15 on this development. However, an observed 5% rise in the benchmark 10-year US Treasury yield appears to be helping DXY limit its losses. At the moment, the index is still down 0.39% on the day at 90.30.
Hours earlier, data from the US showed Personal Spending and Personal Income in November fell 0.4% and 1.1%, respectively. On a positive note, durable goods orders increased more than expected and weekly initial requests for job applications decreased by 89,000 to 80,000.
Meanwhile, the major Wall Street indices are trading mixed, reflecting pre-holiday market conditions. During the Asian session on Thursday, Bank of Japan Governor Haruhiko Kuroda will deliver a speech, but it would be a big surprise to see a reaction from the market.
Technical levels
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