USD/JPY clings to modest daily gains above 110.00
- USD/JPY stays in the positive territory above 110.00 in the American session.
- 10-year US Treasury bond yield is rising for the third straight day.
- US Dollar Index stays around 93.00 in the second half of the day.
The USD/JPY pair stayed relatively quiet around 110.00 in the first half of the day but managed to edge higher during the American trading hours. After touching its highest level in nearly two weeks at 110.23, the pair seems to have gone into a consolidation phase and was last seen rising 0.15% on the day at 110.15.
US T-bond yields continue to push higher
Modest USD recovery and rising US Treasury bond yields seem to be helping USD/JPY stay in the positive territory on Thursday.
The benchmark 10-year US Treasury bond yield, which gained 3.6% on Wednesday, is currently up 1% at 1.358%. Meanwhile, the US Dollar Index is rising 0.2% at 93.00.
Earlier in the session, the US Bureau of Economic Analysis reported that it revised the annualized real GDP growth for the second quarter to 6.6% from 6.5%. Additionally, the data published by the US Department of Labor revealed that Initial Jobless Claims increased by 4,000 to 353,000 in the week ending August 21.
In the meantime, Wall Street's three main indexes are down between 0.2% and 0.5%, allowing safe-haven JPY to stay resilient against its rivals.
There won't be any other high-tier data releases in the remainder of the day and fluctuations in US T-bond yields are likely to continue to impact USD/JPY's movements.
Technical levels to watch for