Foreign investors wager against Japanese Government Bonds but domestic buyers weigh on yields.US PMIs for June, Powell’s Testimony 2.0 will be important catalysts.licks its wounds near intraday low, at 135.50 during Thursday’s European morning. The yen pair’s latest weakness could be linked to the mixed PMI data from Japan, as well as on chatters that the Bank of Japan’s Yield Curve Control policy is under threat.
It’s worth noting that the downbeat performance of the US Treasury yields, recently pressured around 3.15%, also weighs on the USD/JPY prices. It should be noted that the US 10-year Treasury yields dropped the most in one week the previous day, poking the fortnight low of late.
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