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On Tuesday, the USD/JPY pair approaches again the 140.00 zone. The USD/JPY is gaining momentum during the US trading session and climbed to 139.08, reaching the highest level since mid-July. The pair remains bullish amid a stronger US Dollar across the board.
US dollar gains momentum despite another decline in Wall Street. Higher US yields keep the yen under pressure.
The US dollar rose sharply supported by higher US yields. The 10-year yields climbed to 3.14% while the 2-year rose to 3.49%. Bonds dropped even as US equities turned sharply lower. The Dow Jones drops by 0.89% and the Nasdaq falls by 1.25%.
Economic data in the US showed an improvement in Consumer Confidence with the CB index rising from 95.3 in July to 108.80 in August.
The numbers helped the US dollar. Earlier on Tuesday, Japan reported labor market data. The Unemployment rate held steady at 2.6%. While market participants still see possible a 75 basis points rate hike in the US.
