Greenback sticks to three-month peaks after breaking past ¥105
On Friday, the Japanese yen remained close to it weakest level against the greenback for three months during Asia trade, right after a surge in American bond yields as well as the issue of economic data backing the case for growth in American interest rates strengthened the US dollar overnight.
The currency pair USD/JPY gained 0.06%, trading at ¥105.39, compared with Thursday’s outcome of ¥105.28. The major American currency reached ¥105.35 overnight, the highest outcome since July 29.
Market participants focusing on differentials between monetary policy in America, Japan as well as the Eurozone and ongoing robustness in American economic data backed the greenback.
Improved Deutsche Bank results, solid American corporate earnings and also upbeat post-Brexit Britain’s growth helped to strengthen optimism, thus driving a selling of global government bonds outside Japan. The American 10-year Treasury yield achieved its highest level for almost five months.