Tuesday, 18 June 2019
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USD/JPY muted in Tokyo following dollar's resurgence
Wednesday, 8 August 2018 08:34 WIB | CURRENCIES |Dolar ASDolarYenUSD/JPY,

The DXY rallied back to the highs within the following day's range: 94.9940-95.3680. The move was supported by the US 10yr treasury yields rising from 2.94% to 2.97% while the 2yr yields climbed from 2.65% to 2.67% - The Fed fund futures yields are pricing in almost two more full hikes in 2018 which underpins the dollar on the central bank divergences.

China retaliated to the US verbally late yesterday via a newspaper report by the 'China™s People™s Daily' where the news declared the country won™t give in to œtrade blackmail. After already threating to place tariffs on $60 billion of American goods in retaliation to the proposals from the Trump administration to impose new levies on Chinese products.

Investors have become immune to the verbal tit for tata threats between the two largest economies of the world - instead, following a risk on session in Asia and European markets Wall Street sent the Dow Jones Industrial Average DJIA, higher for a third session, where the index was adding 126.73 points, or rose by 0.5%, to 25,628.91. In fact, the VIX was down to its lowest levels of 2018 at 10.97- Subsequently, USD/JPY climbed from 111 the figure and reversed back to 111.47 for the NY high before making a close of 111.37 in NY.

Source : FXstreet

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