The USDJPY pair expanded its monthly increase by some pips to 109.78 before retreating toward the 109.50 price zone, moving along with US Treasury yields. The yield on the 10-year note surged to 1.70% ahead of Wall Street’s opening, underpinning the pair. It later retreated to settle around 1.66%, as the market mood improved and stocks bounced, despite another US report indicating mounting inflationary pressures.
The Japanese data was mixed, as the Trade Balance posted a surplus of ¥983.1 billion in March, surpassing expectations, although the April Eco Watchers Survey Outlook contracted to 41.7 against an expected advance to 50.7.
This Friday morning, Japan released the April Money Supply, previously at 9.5%. now 9.2% YoY. Later in the day the US will release its monthly Retail Sales, Industrial Production and finally the Prelim UoM Consumer Sentiment.
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