The benchmark US 10-year Treasury bond yields reversed from the highest levels in a fortnight to 3.72% the previous day, around the same levels by the press time, whereas the two-year counterpart also snapped a two-day winning streak to drop to 4.52% at the latest.
On the other hand, US Initial Jobless Claims rose to 261K in the week ended on June 02 versus 235K expected and 233K prior . With this, the four-week average rose to 237.25K from 229.75K previous readings. Further, the Continuing Jobless Claims dropped to 1.757M in the week ended on May 26 from 1.794M prior , compared to 1.8M market forecasts.
Above all, the latest divergence between the Bank of Japan and the US Federal Reserve’s monetary policy bias seems to keep the USD/JPY bears hopeful. Moving on, a light calendar can keep the USD/JPY on its way to posting the second weekly loss while bracing for the upcoming week’s key catalysts.A 12-day-old symmetrical triangle restricts immediate USD/JPY moves between 138.55 and 140.05 in that order.
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