Forex
USD Rebounds from Three-Month Low, Elevated Oil Prices Weigh on JPY
The US Dollar (USD) staged a modest recovery on Thursday, rebounding from its three-month low to trade around 159.05 against the Japanese Yen (JPY), up roughly 0.55% on the day.
US Treasury yields bounced back after falling sharply due to the US Treasury Department's announcement of increased liquidity-support buybacks for longer-dated government securities.
The 10-year and 30-year yields are up around 6 basis points, providing support to the Greenback.
Meanwhile, the Japanese Yen (JPY) is underperforming its major peers due to elevated Oil prices, which remain a near-term headwind for the currency.