USD/JPY pares weekly loss above 131.00 despite downbeat yields as recession fears propel US Dollar – by anilpanchal7 USDJPY RiskAversion YieldCurve BOJ Fed
pean session. Even so, the Yen pair remains on the way to reversing the last week’s gains, the first in five, amid downbeat Treasury bond yields.
On the other hand, CME’s FedWatch Tool suggests a nearly 57.0% of chance that the US central bank will pause its rate hike trajectory in May. It should be noted that the US JOLTS Job Openings for February previously slumped to the lowest levels in 19 months and bolstered job fears while ADP Employment Change for March dropped to 145K from 200K expected and an upwardly revised prior of 261K. On the same line, the final readings of S&P Global Composite and Services PMIs for March also came in downbeat as the former one declined to 52.3 from 53.3 preliminary estimations while the Services PMI dropped to 52.6 from 53.
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