- USD / JPY is rising after a weak start to the week.
- Yields on 10-year US Treasuries rise to 1.50%.
- The major Wall Street indices are still on their way to a positive open.
After climbing above 112.00 for the first time in 2021 last week, the USD / JPY pair experienced a correction and fell after three days of rises. With the market mood improving on Tuesday, the pair managed to reverse its course and recently hit highs since Friday at 111.31. After this it fell back and is trading at 111.15, in the run-up to the American session.
Yields push the dollar higher
The recovery of the stock markets, with the futures of the US stock indices rising around 0.30% before the opening bell. Additionally, the benchmark 10-year US Treasury yield remains close to 1.5%, up more than 1% on the day, helping the USD / JPY.
Later in the session, service sector data from IHS Markit and ISM will be released. The key data for the week will be Friday’s employment report, which includes non-farm payrolls and the unemployment rate. On Tuesday, data from Japan revealed that the Tokyo Consumer Price Index (CPI) advanced 0.3% annually in September after -0.4% in August.
Technical levels
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