Mar 27 2021
The Continued Movement of Yuan Below 108,230 will be the First Sign of Weakness
The dollar/yen rise to its highest level since June on Friday as comments from Federal Reserve Chairman Jerome Powell and better-than-expected employment data in the United States pushed Treasury yields. rise sharply. The move widened the gap between US government bonds and Japanese government bonds, making the US dollar a more attractive asset. On Friday, USD / JPY closed at 108.391, up 0.409 or + 0.38%. Buyers continued to push USD / JPY on Friday after data showed that job growth beat expectations in February. Improvements are taking place at work amid the drop in new COVID-19 cases, accelerating vaccination rates and additional pandemic aid money from the government.