The USDJPY pair traded to a near daily high of 109.78, up for a second consecutive day. The positive tone of US Stocks, with Wall Street in the green and higher government bond yields, were at the back of the pair’s advance. The yield on the 10-year US Treasury note is currently at 1.21%, its highest for the week.
Early Friday, Japan published the preliminary estimate of the June Leading Economic Index and the Coincident Index for the same month which came worse than expected. The country also unveiled the Overall Household Spending and Labor Cash Earnings which came worse than expected as well.
Later in the day investors will be eagerly watching the US NFP report for more guidance on the USDJPY pair’s trend which at the moment looks bullish for the Dollar.
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