Yen Advances as Falling Treasury Yields Pressure Dollar
The Japanese yen extended its intraday gains on Wednesday as a slide in longer-term US Treasury yields triggered fresh dollar selling, pushing USD/JPY toward 158.47.
USDJPY
The yen strengthened during Wednesday's session, while the US dollar came under renewed selling pressure following a sharp decline in longer-term US Treasury yields. USD/JPY was trading around 158.47 at the time of the report, near its lowest level in recent trading.
The move reflects renewed demand for the yen as falling yields reduce the attractiveness of the dollar. Traders were watching the pair after the break lower, with the yen extending gains against the greenback.
Source: FXStreet Forex News