US Dollar Outlook: USD/JPY Mired by Yields, Flash PMIs Due
2021-07-22 22:30:00
Rich Dvorak,
Analyst
USD/JPY PRICE OUTLOOK: STRONG PMI DATA MIGHT STEER YIELDS & DOLLAR HIGHER
The US Dollar whipsawed on Thursday and helped the DXY Index reverse its -0.3% decline
USD/JPY price action weakened as Treasury bond yields struggled to extend their rebound
Flash PMIs scheduled for release tomorrow could weigh on risk trends ahead of the FOMC
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US Dollar bulls and bears battled for directional control during Thursday’s trading session only to see the DXY Index close practically flat. The broader US Dollar weakened as much as -0.3% at intraday lows, which seemed to track downward pressure on Treasury yields that followed disappointing weekly jobless claims data.