Yen Trades Stronger Amid Timid Market Sentiment

Yen Trades Stronger Amid Timid Market Sentiment

30 Apr 2021 02:21 PM
 

USD/JPY traded stronger near 108.80 as weak risk sentiment boosted Yen’s safe-haven appeal.

Worries about the surging coronavirus cases hampering Japan's economic recovery and BoJ's forecast that inflation will not reach the 2% target through early 2023 helped limit losses for the pair amid a slight rebound in Dollar. Dollar index received a push from a slight uptick in US Treasury yields.

Going ahead, the focus will be on March Personal Income/Spending data, Core PCE Price Index and revised Michigan Consumer Sentiment Index for April due out of the US later today. US Treasury yields will remain the key driver.