The Japanese Yen (JPY) weakens against the US Dollar (USD) on Tuesday, with USD/JPY reversing the previous day’s losses as the Greenback strengthens across the board, while US Treasury yields move higher. At the time of writing, the pair is trading around 156.70, up nearly 0.23% on the day.
Softer US Purchasing Managers Index (PMI) data released earlier in the session did little to dent the Dollar’s momentum. The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of currencies, is hovering around 98.53 after hitting a daily low of 98.16.
According to the latest S&P Global survey, the US Services PMI slipped to 52.5 in December from 54.1 in November and was revised lower from the preliminary estimate of 52.9. The Composite PMI also eased, falling to 52.7 from 54.2, reflecting slower expansion across both the manufacturing and services sectors.
Despite the…
