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Yen slides as traders look ahead to US CPI and hold USD steady

USD/JPY rose 0.7% to 158.85, while 10-year Treasury yields were little changed at 4.66% ahead of the July CPI release.

Reported · Written up by our desk · Major Pairs

Forexlive said the early part of the new week saw limited follow-through after a soft US jobs report, with markets staying cautious ahead of the July US CPI release scheduled for Wednesday.

In currency trading, the yen fell again, with USD/JPY up 0.7% to 158.85, while the dollar itself was little changed against other major currencies as risk appetite remained tepid and US futures were flat.

The report also noted that benchmark 10-year Treasury yields were only slightly lower or higher at 4.66%, reflecting muted rate expectations into the inflation data.

Elsewhere, oil prices edged higher, WTI rose 1.6% to $79.43, and precious metals were mixed, with gold down 0.2% to $4,333 and silver up 0.8% to $64.06.

Latest closeGold $4,292.00 ▲1.1%|Silver $61.56 ▼0.9%|WTI crude $78.07 ▲3.8%

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