- USD/JPY is moving sideways below 109.00 on Monday.
- 10-year US Treasury bond yield is down nearly 1% in early American session.
- Focus shifts to Wall Street’s opening bell, Fedspeak.
The USD/JPY pair dropped to a daily low of 108.69 but managed to erase the majority of its daily losses. As of writing, the pair was down 0.03% on the day at 108.91.
Eyes on Fedspeak
The modest decline witnessed in the US Treasury bond yields doesn’t allow USD/JPY to push higher in the early American session. Currently, the benchmark 10-year US T-bond yield is losing 0.73% on a daily basis at 1.608%.
Meanwhile, the greenback struggles to find demand amid improving market mood on Monday. The S&P Futures are up more than 0.5% and Wall Street’s main indexes remain on track to open in the positive territory, suggesting that the USD is likely to remain depressed in the second half of the day. At the moment, the US Dollar Index is losing 0.15% at 89.90.
The only data from the US showed on Monday that the Federal Reserve Bank of Chicago’s National Activity Index declined to 0.24 in April from 1.71.
Later in the session, investors will be paying close attention to policy remarks by Federal Reserve Governor Lael Brainard, Cleveland Federal Reserve President Loretta Mester and Atlanta Federal Reserve President Raphael Bostic.
There won’t be any high-tier macroeconomic data releases featured in the Japanese economic docket on Tuesday.
Technical levels to watch for
Share
