USD/JPY bears pounce in the opèn and take out 131.00 – by fx_ross USDJPY Currencies DollarIndex Fed
USD/JPY is down on the day so far losing some 0.2% and printing a low of 130.99 from 131.33 the high in a firm sell-off in the Asian morning. The underlying trend for the US Dollar remained tilted to the downside mid week although traders have started to pare back shorts across the board, as per DXY, into the long weekend and US Nonfarm Payrolls showdown.
private employment increasing by 200,000, Reuters reported. Additionally, the ISM's Non-Manufacturing index dropped to 51.2 in March from 55.1 in February. The services sector's employment indicator slid as well to 45.8 from 47.6 in February.The data this week has been weighing on the Greenback and casting an eye over the last month, the US two-year yields, which reflect interest rate expectations, sank nearly 74 basis points , the worst monthly fall since January 200.
Reuters reported that ´´futures priced in a 39.1% likelihood that the Fed raises its target rate by 25 basis points on May 3 when policymakers conclude a two-day meeting, down from 59.7% on Monday, CME's FedWatch Tool showed. Chances the
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