USD/JPY Rises on Treasury Yield Gains

The U.S. Dollar (USD) rose against the Japanese Yen (JPY) on Friday supported by the rising Treasury bond yields,

The benchmark 10-year U.S. Treasury bond yield is up by about three basis points at 1.66% after declining on Thursday, amid expectations of a rise in inflation following the release of the changes in producers prices in the U.S. for March.

The U.S. Core Producer Price Index (PPI) leveled up to 3.1% in March from 2.5% in February, exceeding market expectations, according to data released earlier today by the U.S. Bureau of Labor Statistics.

The USD/JPY is higher for the day by about 0.37 at 109.6600. Its highest level today came in at 109.960, while its lowest was 109.210, after closing Thursday at 109.2700.