untitled design

USD / JPY falls to three-week lows to 108.65

  • Yen is helped by falling Treasury yields.
  • The dollar maintains a tone of general weakness, DXY manages to hold above 92.50.

USD / JPY is falling for the fourth day in a row and it just dropped to 108.65, the lowest level in three weeks. It is trading around 108.75 / 80, 15 pips below yesterday’s close. The pullback in Treasury yields is the factor behind the dollar’s weakness.

The 10-year Treasury bond rate reached 1,609%, the lowest since March 25. It remains close to the floor, with a short-term bearish bias, and important support at 1.60%. A firm break from that level could trigger further downs and put more pressure on the dollar.

The rise in the stock markets is a factor that may be limited by the fall of the USD / JPY. After the record close, futures are pointing to an open with gains around 0.50% in the major Wall Street indices.

The economic calendar is shown loaded for the next hours with US data. The weekly report of requests for unemployment benefits, the report of retail sales March, the Empire Manufacturing Index, the Industrial production March and Wholesale Inventory and the National Association of Home Builders will release the Real Estate Index for March. The amount of data means that a certain impact can be expected in the market, especially if there are big surprises.

Technical levels

.

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular