USD/JPY extended its daily rally after FOMC Minutes on Wednesday. US Dollar Index gained traction and rose above 93.00. FOMC participants voiced concerns over yield caps’ impact on balance sheet. The USD/JPY rose sharply in the last minutes and touched a fresh daily high of 106.00 as USD continued to gather strength against its rivals after the FOMC released the minutes of its July meeting. As of writing, the pair was up 0.5% on a daily basis at 105.95. US T-bond yields turns north on FOMC Minutes The FOMC’s statement showed that most policymakers judged yield caps and targets would provide only modest benefits, making it unlikely for the Fed to introduce yield curve control in September. Additionally, policymakers saw costs to yield caps and targets including a rapid expansion of the balance sheet. This change of tone with respect to deficit seems to be providing a boost to the USD. As of writing, the US Dollar Index (DXY) was up 0.73% on the day at 93.01. Moreover, the sharp upsurge witnessed in the US Treasury bond yields seems to be supporting the DXY’s rally. The 10-year US T-bond yield, which lost as much as 4% earlier in the day, was last up 2.45% on the day at 0.683%. Technical levels to watch for FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Breaking: LTC/USD drops by 10% dipping below $60 FX Street 2 years USD/JPY extended its daily rally after FOMC Minutes on Wednesday. US Dollar Index gained traction and rose above 93.00. FOMC participants voiced concerns over yield caps' impact on balance sheet. The USD/JPY rose sharply in the last minutes and touched a fresh daily high of 106.00 as USD continued to gather strength against its rivals after the FOMC released the minutes of its July meeting. As of writing, the pair was up 0.5% on a daily basis at 105.95. US T-bond yields turns north on FOMC Minutes The FOMC's statement showed that most policymakers judged yield caps and targets would… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
