USD/JPY pair sees potential to rise
All components of US purchasing manager indices were at their highest levels this year. The manufacturing PMI rose past the critical 50 mark to 50.4 against a forecast of 48. The services PMI increased from 52.6 to 53.7. These data boosted the yield of US Treasury bonds. That, in turn, increases demand for the dollar. It's likely that the USD/JPY currency pair will continue to rise.
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