Usd/Jpy is trading 108.78; it is trading higher with 0.12 due to increasing demand for risky assets and higher U.S. Treasury yields, which weakened the
Usd/Jpy is trading 108.78; it is trading higher with 0.12 due to increasing demand for risky assets and higher U.S. Treasury yields, which weakened the appeal of the Japanese Yen as a safe-haven asset. The Japanese Yen fell to a seven-week low against the U.S. Dollar as risk appetite grew on optimism that the worst of the economic downturn from the spread of the coronavirus is in the past.
Today's US economic docket highlights the release of the ADP report on private-sector employment, which will be followed by the ISM Non-Manufacturing PMI for May. The data might influence the USD price dynamics. This along with the broader market risk sentiment will play a key role in producing some meaningful trading opportunities later during the early North American session. The key focus, however, will be on Friday's closely watched US monthly jobs report, popularly known as NFP.