USD/JPY moves sideways around 149.80 during the Asian session on Wednesday. The pair faces a minor challenge as the US Dollar (USD) consolidates after
USD/JPY consolidates below the 150.00 on stable US Dollar after recent gains. Japanese Prime Minister Kishida refrained from influencing the JPY through verbal intervention. Upbeat US PMI data supported the US Dollar to rebound from the monthly low. recent gains. The government is facing increasing political pressure to intervene and safeguard Japanese households from the rising inflation.
20, driven by favorable preliminary S&P Global PMI figures released on Tuesday. However, the diminishing US Treasury yields, standing at 4.82% for the 10-year yield, could apply downward pressure on the US Dollar . In October, the US S&P Global Composite PMI demonstrated growth, ascending from 50.2 to 51.0. The Services PMI witnessed an uptick, reaching 50.9, while the Manufacturing PMI increased to 50.0.
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