The USD/JPY pair came under heavy pressure during the early American session amid plunging US Treasury bond yields. As of writing, the pair was trading at 105.80, losing 0.14% on a daily basis.
5-year US T-bond yield drops to all-time lows on Tuesday
Despite the upbeat macroeconomic data releases from the US, the lack of progress on the next coronavirus relief bill seems to be weighing on sentiment and ramping up the demand for safe-haven Treasury bonds. At the moment, the 10-year US T-bond yield is down 6.8% on the day and the 5-year US T-bond yield, which is at fresh re#PMI##FX#cord lows near 0.2%, is losing 9%.
The data published by the US Census Bureau showed on Tuesday that Factory Orders in June increased by 6.2% and beat the market expectation of 5%. Additionally, the ISM-NY Business Conditions Index surged from 39.5 in June to 53.5 in July and the IBD/TIPP Economic Optimism improved to 46.8 from 44.
In the meantime, falling US T-bond yields are weighing on the greenback and the US Dollar Index is posting modest daily gains at 93.55 after touching an interim high of 93.83 earlier in the session.
In the early trading hours of the Asian session on Wednesday, Jibun Bank Services PMI data from Japan will be looked upon for fresh impetus.
Reprinted from fxstreet, the copyright all reserved by the original author.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.