FXStreet – The Japanese Yen put in for the last hour on a broad Front with a shovel. Cause of this case, were the end of US stock markets and rising bond prices. The currency pair USD/JPY fell on 112,95 and marked the lowest level since 08. May. Recently, the US dollar traded on 113,21 and to 0.51 percent in the Minus.
Yesterday’s recovery was short-lived and the US Dollar continued its downward movement, after he had reached in the previous week, a new 1-month High at 114,36.
The most recent decline occurred in reaction to a rally in US bonds. The yield on 10-year US Treasury bond fell to 2.30 percent, the lowest level since 03. May. On Wall Street, the Dow Jones turned negative, while the S&P 500 lost 0.12 percent.
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USD/JPY: the perspective between 112,50 up 114,20 neutral
Fed remains on higher interest rates
In the short term, the currency remains weak. If the U.S. Dollar is the 20-hour line at 113,50 back to Robert, could reduce the negative Momentum. The next key resistance would be around 114,00. A consolidation also paves the way for a rise towards last week highs.
** FXStreet News Editorial, FXStreet**