- USD / JPY is slowly climbing towards the end of the US session.
- The yield on 10-year US Treasuries has risen more than 2%.
- The US Dollar Index is climbing towards 93.00.
The pair USD/JPY it is slowly rising in the closing hours of the US session on Monday supported by rising US Treasury yields. At time of writing, the pair is a few pips away from a fresh 12-month high, gaining 0.16% at 109.83.
Yield on 10-Year US Treasury Turns North
In the absence of significant fundamental drivers, movements in US Treasury yields continue to affect the dollar’s performance against its rivals. The yield on the benchmark 10-year US Treasury, which lost nearly 2% earlier in the week, is rising 2.5% to 1,713% and the US dollar index is at its highest in more than four months with 92.95.
On Tuesday, February unemployment rate and retail data will be included on the Japanese economic docket. However, investors are likely to remain focused on US Treasury yields.
The only US data on Monday showed that the Federal Reserve Bank of Dallas’ manufacturing index jumped to 28.9 in March from 17.2 in February and beat the market expectation of 12.1 by a wide margin. Data from the US Conference Board Consumer Confidence Index will be analyzed for further momentum on Tuesday.
Technical levels
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