USD/JPY Heavy on
106.00 amid lower S&P futures, poor China data
USD/JPY dropped from
near 106.75 so far this Wednesday, now holding the lower ground near 106.30.
The spot remains dragged down by upbeat Japanese macro data, concerns over the
Hong Kong unrest and poor Chinese data dump.
The Japanese yen was
the worst performer against the dollar this Tuesday, with the USD/JPY pair
jumping from the 105.00 regions to 106.97 after the US government announced a
delay in tariffs on some of the Chinese imports until mid-December. Speculative
interest abandoned safe-haven assets and rushed back into equities on the
relief headlines, and despite no progress has been made in trade talks. US
Treasury yields recovered, although the yield on the benchmark 10-year note
settled at 1.68%, recovering from an intraday low of 1.62%.
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