- USD/JPY looks shaky 104.00 on Thursday.
- 10-year US T-bond yield drops over 2%.
- US Dollar Index holds over 92.50 prior to US data.
USD/JPY dropped to a 9 day low of 103.64 on Wednesday and recovered on Thursday but failed to hold its bullish momentum after 104.21 . Currently USD/JPY trades 0.15% higher at 104.00.
Focus on mid-tier US data
After a higher close on Wednesday, the 10-year US Treasury bond yield turned lower on Thursday meaning USD/JPY struggled to continue its bounced. .
Risk off trading is boosting US Dollar demand limiting losses on USD/JPY .
US Dollar Index trades 0.25% higher at 96.25.Initial jobless claims Existing Home Sales, Philadelphia Fed Manufacturing Index and Kansas Fed Manufacturing Activity Index will be in focus.
Looking ahead, the Jibun Bank Manufacturing PMI will be the only data featured in the Japanese economic docket.