- USD / JPY continues to fluctuate below 110.00 on Tuesday.
- The yield on 10-year US Treasuries is increasing by more than 1%.
- US Dollar Index remains relatively quiet near 93.00 ahead of mid-level data.
Despite the widespread selling pressure surrounding the dollar, the pair USD/JPY It posted small losses on Monday as the JPY struggled to find demand on risk appetite. Although the pair rose towards 110.00 in the early trading hours of the European session, it lost its momentum and was last seen trading sideways at 109.70.
DXY remains around 93.00
The benchmark yield on 10-year US Treasuries is rising more than 1% on Tuesday, helping the USD / JPY limit its losses. Meanwhile, the major Wall Street indices appear to open modestly higher after Monday’s rally with S&P futures rising 0.17% on the day.
On the other hand, the US Dollar Index (DXY) is struggling to stage a convincing rally after closing deep into negative territory on Monday.
Ahead of July new home sales and the Federal Reserve Bank of Richmond manufacturing index data for August, the DXY is virtually unchanged on the day and is trading at 93.00.
On Wednesday, the coincident index data and the leading economic index will be included in the Japanese economic agenda. However, this data is likely to be ignored by market participants and risk perception is expected to continue to dominate market action.
Technical levels
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