- Yen gains moment before falling in bags and in yields of bonds of the Treasury.
- The dollar with mixed results, at the start of the June meeting of the Fed.
The USD / JPY returned to the downside after a small rebound and fell to 109.83, reaching the lowest level since last Wednesday.. The pair remains under pressure trading below 110.00, as the yen rallies widely.
The Japanese currency is favored by a drop in Treasury bond yields and a certain climate of caution in the markets. The 10-year rate dropped to 1.22%. The major indices on Wall Street are negative. The Dow Jones loses 0.53% and the Nasdaq 1.09%.
For its part, the dollar presents mixed results. It is favored against commodity-linked currencies while against European currencies it erased its gains, pushing DXY negative for the day.
The US data did not bring any big surprises, cwith a lower-than-expected rise in durable goods orders, a jump in the Richmond Fed index and a higher-than-expected advance in consumer confidence indicators.
The key anyway is in the beginning of the meeting of the Federal Reserve. The decision will be known on Wednesday. No changes are expected but the tone of the statement and future signals on monetary policy will be key and may have a broad impact on the USD / JPY.
Technical levels
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
