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Title: USD/JPY rises to daily highs above 110.70 on renewed USD strength

Jun 30, 2021 1:12:48 PM GMT

By: AnalysisWatch

  • USD/JPY began out to aspect better in the early American consultation.

  • US Dollar Index climbs into the high quality territory close to 92.20.

  • 10-12 months US Treasury bond yield remains in the bad territory.

After spending the bulk of the day in a completely tight variety close to 110.50, the USD/JPY pair won traction in the early American consultation and reached a day by day excessive of 110.71. As of writing, the pair become up 0.17% at the day at 110.68.

Renewed USD electricity appears to be supporting USD/JPY aspect better. The US Dollar Index (DXY), which controlled to publish modest profits in the first days of the week, is presently buying and selling at a nine-day excessive of 92.1 The month-to-month records posted via way of means of the Automatic Data Processing (ADP) Research Institute confirmed on Wednesday that employment in the US personal zone rose via way of means of 692,000 in June. This print got here in more potent than the marketplace expectation of 600,000 and helped the USD locate demand

On the opposite hand, the benchmark 10-12 months US Treasury bond yield is down 0.7% at the closing day of the second quarter, making it tough for USD/JPY to collect similarly bullish momentum.

There may not be another excessive-tier records releases in the rest of the day and quarter-cease flows may want to ramp up marketplace volatility in the direction of the cease of the European consultation.

On Thursday, the Tankan Large Manufacturing Index and the Non-production Index from Japan can be seemed upon for clean impetus.9.

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