USD/JPY jumps toward 110.00 on modest USD rebound

• USD/JPY prints minute gains on Tuesdsy the initial Asian trading hours.
• US Dollar Index slips below 93.00 on dovesh US Fed outlook.
• Lower US Treasury yields augmented the downside for the US dollar.

 The USD/JPY pair remains on the higher edge in the Asian session. Despite the weakness in the greenback, USD/JPY manages to trade modestly higher as the Japanese Yen struggles to find demand on the domestic COVID-19 situation.

At the time of writing, USD/JPY is trading at 109.90, up 0.04 % for the day.

The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades below  93.00 with 0.42% losses as investors ditched the USD after FOMC Chair Jerome Powell’s comment.

The US 10-year benchmark Treasury yields trade lower at 1.31% with 2.50% losses.

On the other hand, the Japanese Yen remained on a lower track after the general improved risk sentiment.

Meanwhile, Bank of Japan’s (BOJ) policymaker said the outbreak of COVID-19 infections outpacing the expected pace of economic recovery,

As for now, investors wait for the US Chicago PMI  data to gauge the market sentiment.

USD/JPY additional levels