The Japanese yen fell to its lowest level in three months against the dollar amid rising US Treasury bond yields. The yen eased as US 10-year bond yields touched a 3-month high on growing expectations of a US Fed tapering announcement. US 10-year Treasury yields hit 1.53% for the first time since June on signals the Federal Reserve is shifting toward a more hawkish policy. Investors await speeches from Federal Reserve policymakers for clues on when the central bank could taper its pandemic-era economic support. USD/JPY pair currently trading at 111.43, close to its pre-pandemic levels. Meanwhile, the U.S. dollar index at the time of writing was at 93.65, having earlier hit 93.67, its highest since August 20.
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