Weakness in US Yields keeps USD pressured
USD remained in focus, with this week’s dovish comments from Fed Chair Powell and weakness in Treasury yields weighing on the reserve currency. This has resulted in a steady grind lower throughout the Asia-Pacific session, with DXY eventually dipping below Thursday’s lows.
In contrast and stronger across the board is JPY, with the safe-haven currency benefitting from weakness in USD, alongside the risk-off tone. Consequently, AUDJPY is now trading below the 92.00 handle and EURJPY below the 142.00 handle.
Looking ahead, today’s European session is light on tier one data, with the day’s main event coming in the following US session as participants look towards the latest employment reports from the US and Canada.
In contrast and stronger across the board is JPY, with the safe-haven currency benefitting from weakness in USD, alongside the risk-off tone. Consequently, AUDJPY is now trading below the 92.00 handle and EURJPY below the 142.00 handle.
Looking ahead, today’s European session is light on tier one data, with the day’s main event coming in the following US session as participants look towards the latest employment reports from the US and Canada.