USD/JPY slides to 134.00 as US Treasury bond yields retreat – by anilpanchal7 USDJPY Bonds YieldCurve BOJ Fed
prints the first daily loss in seven days, refreshing its intraday low near 133.90 by the press time.
That said, the US Treasury retreat from the multi-day high as traders await more clues while consolidating the latest run-up amid sluggish markets and a light calendar. That said, US 10-year Treasury yields decline 1.3 basis points to 3.873% after rising to the highest levels since November 14 the previous day.
It should be noted that the benchmark US bond coupons marked the biggest daily jump since late October on Wednesday and allowedThe previous run-up in the US Treasury yields could be linked to the market’s lack of confidence in China’s unlock, as well as the geopolitical woes surrounding Russia. News from Reuters suggesting inconsistent virus details from Beijing and multiple economies announcing fresh testing requirements from China previously weighed on the market sentiment and propelled the US Treasury yields. “China reported three new COVID-related deaths for Tuesday, up from one for Monday - numbers that are inconsistent with what funeral parlors are reporting, as well as with the experience of much less populous countries after they re-opened,” reported Reuters.
The latest updates from Ukrainian Military and Russian offices also portray the escalation of the geopolitical tension and propel the US Dollar’s haven demand. “Russian forces increased mortar and artillery attacks on the city of Kherson more than six weeks after it was retaken by Ukrainian troops, while also exerting pressure along frontlines in the east,” said the Ukrainian Military office per Reuters.
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