- USD / JPY is still on track to break its six-day winning streak.
- The US Dollar Index fell below 93.00 on Thursday.
- The 10-year US Treasury yield is losing more than 3%.
After climbing towards 111.00 earlier in the day, the pair USD/JPY turned south during US hours of operation and hit a daily low of 110.54. At time of writing, the pair is trading at 110.57, shedding 0.11% on the day.
DXY dips below 93.00 on Thursday
The sharp drop seen in US Treasury yields weighed on the dollar in the second half of the day and allowed USD / JPY to reverse its course. The benchmark 10-year US Treasury yield is currently down 3.54% on the day to 1,682% and the US Dollar Index is shedding 0.35% to 92.90.
Meanwhile, market optimism, reflected by the impressive performance of the major Wall Street indices, is putting additional weight on the USD’s shoulders. The S&P 500 Index is currently trading at new all-time highs of 4,012, up nearly 1% on the day.
Hours earlier, US data showed that the ISM manufacturing PMI in March reached its best level since 1983 at 64.7. This reading beat the market expectation of 61.3 and provided a boost to risk sentiment. On a negative note, initial weekly Unemployment Claims rose to 719,000 in the week ending March 27, but the previous reading was revised down to 658,000 from 685,000.
No macroeconomic data for Japan will be released on Friday. Later in the day, the March Non-Farm Payroll (NFP) report from the US Bureau of Labor Statistics will be included on the US economic agenda.However, trade action is likely to hold. moderate due to Easter holidays.
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.