USD/JPY drops from six-day highs and turns negative
|- Japanese yen gains momentum amid lower yields and as stocks move off highs.
- USD/JPY flat for the day, hovering around 109.50/55.
The USD/JPY peaked after the beginning of the American session and following US economic data at 109.79, reaching the highest level since last Friday. Then it turned to the downside as US yields pulled back and as US stocks trimmed gains.
Recently USD/JPY bottomed at 109.41, and it is hovering around 109.50 modestly lower for the day. The US dollar is mixed across the board, with the DXY flat at 90.10/15.
The greenback is moving without a clear trend even after US economic data. The CPI (annual) reached 5%, the highest level since 2008, and initial jobless claims dropped less than expected, although hitting a fresh one-year low.
Yields initially rebounded with the 10-year hitting 1.53% and quickly turned again to the downside, approaching the recent low. The slide toward 1.48% in the 10-year yield weakened the greenback.
Technical levels
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