- The dollar is supported by rising Treasury yields.
- Income and personal expenses fall in February in the US.
The USD / JPY accelerated the bullish journey and after breaking 109.35 / 40, it extended the rise to 109.81, the highest level since the beginning of June last year. The price remains in the area of ​​the highs, with the bullish tone intact, weighting overbought indicators.
The pair was unaffected by personal income and spending data. Revenues fell more than 7% in February, but it was not much of a surprise as a similar drop was expected. Expenses fell slightly more than expected. The greenback receded but only slightly. Against the yen, after a brief setback, it resumed the upward direction.
One of the major supports for the USD / JPY rally continues to be Treasury bond yields. Recently the 10-year Treasury bond rate rose from 1.62% to 1.67%, the highest in four days. In addition, the yen was weakened by the rise in shares on Wall Street. On Thursday they experienced a strong rebound, and on Friday they point to a positive opening.
US consumer confidence data will be released later on Friday. Traders will also closely monitor the bond market and what happens to stocks. The USD / JPY approach to 110.00 is another relevant factor, although 109.75 / 80 is already a relevant resistance.
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.
