- USD/JPY trades virtually unchanged on Wednesday in the initial Asia session.
- The US dollar trades below 94.00 despite higher US T-bond yields.
- Mixed Fed’s officials and data weigh on the US dollar.
USD/JPY remains muted on Thursday after testing the fresh four-year high in the previous sessions. The pair stays in a relatively narrow price band, after hovering near the daily highs in the US session. At the time of writing, USD/JPY is trading at 114.37, up 0.02% for the day.
The US benchmark 10-year Treasury bond yields trade at 1.65%, the highest in the two years. Investors continue to anticipate the Fed’s tapering next month amid rising inflationary pressure and soaring energy prices.
US Cleveland Fed’s President Loretta Mester remained bullish on Fed’s tapering but refrained from the interest rate hike timeline.
On the other hand, the Japanese yen surrenders its gains on improved risk sentiment. It is worth noting that, S&P 500 Future is trading at 4,524, up 0.02% for the day.
As for now, traders are waiting for the US Initial Jobless Claims and Fed’s Offical’s speeches to gauge the market sentiment.
USD/JPY additional levels
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