- USD/JPY remains heavy amid risk-off at full steam.
- The bulls lose nearly 120 pips from the Asian highs.
- Focus on the US Senate vote again on coronavirus economic package bill.
The selling interest around the US dollar remains unabated across the board, knocking-off USD/JPY back below 110.00, down nearly 0.70% on the day.
Markets ignore greenback’s dash for cash status, as the US currency gets sold-off into a sharp decline in the US 10-year Treasury yields, as risk-aversion grips Asia following the US Senate’s failure to advance the coronavirus rescue package bill.
Democrats and Republicans remained split, as the failed vote raised pressure to reach a deal, especially in light of amplifying coronavirus risks in the US, which hit the appetite for risk assets.
The US benchmark 10-year Treasury yields are down 13% at 0.815%, as the US dollar index drops 0.60%, reverting towards the daily low of 101.95. S&P 500 futures hit the lower circuit breaker at open, now losing 4.14%.
Looking ahead, the pair will remain at the mercy of the risk sentiment and US dollar price-action, as all eyes remain on the US Senate’s second vote on the same US Coronavirus economic relief package bill, scheduled later on Monday.
USD/JPY technical levels to watch
Share
