- DXY marks new lows and pushes USD / JPY lower.
- The pair reversed direction after reaching 111.30.
The USD / JPY was unable to hold onto daily gains and fell from 111.30 to 111.07, finding support above the 20-hour moving average. The pullback came in the face of more widespread declines in the US dollar.
The greenback, despite being unchanged against the yen, falls against the rest of the currencies. The DXY is trading at 93.75, the lowest level since last Wednesday, down 0.33%. This occurs despite a rise in Treasury bond yields. The 10-year rate is at 1.49%, far from the low of 1.46% hours ago.
The economic calendar is loaded for this week, highlighting the employment report on Friday, which is expected to have a great influence on the monetary policy expectations of the Federal Reserve.
The August US factory orders report will be released on Monday. The focus of attention will also be on the negotiations in the US Congress for the infrastructure package and the legal debt limit.
On Japan, inflation data will be released on Tuesday. The novelty of the Asian country has been the change of cabinet after the assumption of Fumio Kishida as the new prime minister. Taro Aso ceased to be the Finance Minister, being replaced by Shunichi Suzuki. The new Economy Minister is Daishiro Yamagiwa. There is speculation with a call for general elections for October 31.
Technical levels
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