Apr 20, 2021 02:51 GMTFXStreet News
GBP/JPY bounces off intraday low, trims mild losses from two-week top.
Risks benefit from economic recovery hopes, Biden’s readiness to aler spending plan.
Chatters surrounding China, Russia and covid strains test the bulls.
Japan’s Tertiary Index for February, UK employment for March becomes the key.
GBP/JPY picks up bids near 151.20, down 0.06% intraday, as markets in Tokyo open for Tuesday’s trading. The pair earlier pulled back from two-week tops before bouncing off 151.08 the latest. It’s worth mentioning that the market optimism backed the quote during the previous two days.
While chatters surrounding the BOJ’s readiness to alter inflation targets in the upcoming meet favor JPY sellers, amid hopes of further stimulus, headlines from the US Senate become the key. US President Joe Biden finally realized the fears looming over his $2.25 trillion bill and stepped back to compromise on certain key issues like taxes.
4/20/2021 10:56:52 AM GMT
Overview: Even as US yields edge higher, the dollar struggles. With the 10-year Treasury yields now at 1.62%, nine basis points above last week s lows, the greenback has turned mixed against the major currencies. After briefly slipping below JPY108, the dollar has recovered to around JPY108.55. The euro firmed to $1.2080, and sterling pushed through $1.40 before seeing the gains pared. Sterling is now lower on the day as are the Scandis. Emerging market currencies are more mixed, and the JP Morgan Emerging Market Currency Index is snapping a five-day advance. The dollar s weakness, where the Dollar Index is falling for the seventh consecutive session, maybe helping to unpin commodity prices. Although gold is extended yesterday s reversals, base metals and oil are higher, and the CRB Index is at its highest level in over a month. US equity futures have stabilized after yesterday s fall. In the Asia Pacific region, equities were mixed, with Jap
3/14/2021 12:53:50 PM GMT
USD/JPY Current price: 109.01
Fresh one-year highs in US government bond yields underpinned the pair.
Wall Street closed mixed, DJIA and S&P keep pressuring all-time highs.
USD/JPY is bullish despite its extreme overbought conditions.
The USD/JPY pair posted substantial gains for a fourth consecutive week, settling a few pips above the 109.00 figure. The pair advanced sharply on Friday, underpinned by US government bond yields hitting fresh one-year highs. The yield on the 10-year note peaked at 1.642%, to settle at 1.62%. Stocks were mixed as the DJIA and the S&P advanced, but the Nasdaq closed in the red amid the tech sector underperforming.
1/11/2021 10:30:45 AM GMT
Markets shrugged off the events at Capitol Hill and are focusing on fiscal prospects under a Blue Senate. Despite having found some support on rising US Treasury yields, we expect the USD to resume its downtrend this week. Keep an eye on the ECB minutes on Thursday, while grim UK GDP may have a limited impact on GBP.
USD: Fed seeks to curb bond market’s enthusiasm
The first week of the new year has seen much focus on the US Treasury market. Here the rise in ten-year US Treasury yields to 1.10% has provided the dollar with a little support. Indeed, the US Treasury sell-off paid little heed to the soft December jobs report. The week ahead should also see more soft US data in the form of retail sales and consumer confidence – weighed by lockdowns, particularly on the West Coast. We will also see quite a few Fed speakers, probably delivering a message that US$120bn of monthly bond buying will last all year. That might be enough to slow some of the rise in
1/9/2021 2:47:46 AM GMT
USD/JPY recovers ground but the trend remains lower.
Weak US December payrolls had minimal effect as already priced.
BOJ “closely watching currency markets” provides Thursday boost.
FXStreet Forecast Poll sees little movement despite bearish outlook.
A week of political turmoil in the United States that culminated in a riot in the halls of Congress by supporters of President Trump, had almost no impact on the currency markets as an old-fashioned warning from the Bank of Japan combined with the prospect of more stimulus spending in the United States gave the USD/JPY a modest boost back to 104.00.