Yen rose as timid U.S. economic data and surging global coronavirus cases kept investors watchful.
The trade volume is light today because of a U.S. bank holiday. The pair could remain in a tight range with U.S. Treasury markets closed. The recent recovery in the pair has been driven by a surge in Treasury yields.
Risk sentiment and Treasury yields are expected to continue to be the key drivers over the short-run. Investors are eyeing the interest rate differential between U.S. Government bonds and Japanese Government bonds.
Later in the week, President-elect Biden is due to be inaugurated in Washington. Tensions are high after mob violence a few weeks ago.
US Treasury Secretary, Janet Yellen, is expected to rule out seeking a weaker dollar when testifying on Capitol Hill tomorrow.
05 Mar 2021 06:06 PM
Key factors to keep in mind before the US markets open
05 Mar 2021 05:08 PM
India's foreign exchange reserves rose to $584.55 billion as of Feb 26, compared with $583.87 billion a week earlier, the Reserve Bank of India.
05 Mar 2021 04:36 PM
Have a look at how Indian rupee ended the day
05 Mar 2021 03:51 PM
Indian equities fell for a second straight session today and snapped their three-day gaining streak as investors remained spooked by a sharp rise in US yields. Sensex managed to hold 50,000 and closed below 441 points, but Nifty gave up 15,000.
05 Mar 2021 03:00 PM
Pound fell and traded around 1.3830 as Dollar extended gains following Powell’s dovish comments leading to an upward rally in US yields.
05 Mar 2021 02:56 PM
Find out how European markets are reacting today