The USD/JPY finally broke out of its 2-week old trading range, reaching its highest level since the end of December at 111.17. At the time of writing, the pair traded a few pips below this level, gaining 0.45% daily.
Hopes of the US and China to reach a trade agreement after President Trump announced that he had delayed the increase in tariffs on Chinese imports allowed investors to dispose of safe havens on Monday.
The positive sentiment weighed on US bond demand and boosted yields, with the 10-year yield on that day rising 1%. Supported by the upturn in yields, the S & P 500 Financials Index rose nearly 1.5%. Currently, both the Dow Jones Industrial Average and the Nasdaq Composite are 0.7% above the daily opening price.
In addition, the dollar took advantage of the above-mentioned market movements, bringing its daily losses against its rivals. At the moment, the US dollar index, which fell to 96.30 in the early morning in Europe, was 96.60, up 0.12%.
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