30.06.2020 USD/JPY Daily Analysis

30.06.2020 USD/JPY Daily Analysis

USD/JPY 107.69 +0.13    (+0.13%) The dollar retreated on Tuesday morning in Asia, giving up it gains from the last session as investors balance positive trade data with increasing COVID-19 figures. China reported a higher-than-expected manufacturing Purchasing Manager’s Index of 50.9 earlier in the day. Meanwhile, COVID-19 continues its rampage, with over 10.2 million cases as of June 30 according to Johns Hopkins University data. U.S. Federal Reserve Chair Jerome Powell warned on Monday that the outlook for the U.S. economy is "extraordinarily uncertain" and is dependent on the virus being contained and government measures to support recovery. Some U.S. states have reported a recent surge of cases as they prepared to re-open and restart their economies. The U.S. Dollar Index that tracks the greenback against a basket of other currencies slipped 0.05% to 97.448 by 12:09 PM ET (5:09 AM GMT). The USD/JPY pair was up 0.15% to 107.72.