- 10-year US T-bond yield erases Thursday’s gains.
- Wall Street looks to open in the negative territory.
- US Dollar Index pushes higher toward 98.
After testing the critical 110 mark during the Asian session, the USD/JPY pair failed to gather strength and moved into the negative territory. As of writing, the pair was trading at 109.65, losing 0.18% on a daily basis.
Risk-aversion, once again, seems to be dominating the market action on Friday and allowing the JPY to outperform its rivals. China’s foreign ministry earlier today said that they had no information on a Trump-Xi meeting at G20 summit in June. Following yesterday’s decisive, more than 2%, gains, the 10-year US T-bond yield reversed its direction and was last down nearly 1% on the day to confirm the sour sentiment. Moreover, the S&P 500 Futures is losing 0.5% to suggest that Wall Street is likely to open the day lower.
On the other hand, major European currencies, such as the GBP and the EUR, are suffering losses against its rivals amid concerns over the probability of a no-deal Brexit increasing with the opposition Labour party and the British government failing to reach an agreement and allowing the greenback to find demand.
The US Dollar Index, which touched a multi-week high of 97.95 earlier in the session, was last up 0.07% on the day at 97.90, keeping the pair’s losses limited for the time being.
Technical levels to watch for
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