USD/JPY: Bearish bias remains intact near 128.00 on downbeat Treasury bond yields – by anilpanchal7 USDJPY YieldCurve RiskAppetite Fed BOJ
early Thursday. In doing so, the Yen pair pays little heed to the fears emanating from downbeat foreign trade numbers from Japan and the US recession concerns.
That said, US Retail Sales marked the biggest slump in a year while posting 1.1% MoM contraction for December, versus -0.8% market forecasts and -1.0% prior . On the same line,dropped to the lowest level in six months with -0.5% MoM figure compared to -0.1% expected and 0.2% prior . It’s worth mentioning that the yields on the 10-year Japanese Government Bond remain pressured around 0.40% after declining 15% on the Bank of Japan’s inaction the previous day.
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