USD/JPY pares intraday losses, still deep in the red below 122.00 mark By HareshMenghani USDJPY Ukraine RiskAppetite Fed Currencies
The pair witnessed heavy selling for the second successive day on Wednesday and retreated further from its highest level since August 2015, around the 125.10 region touched on the first day of the week. Speculation that officials were uncomfortable and would respond to the Japanese yen's recent weakness turned out to be a key factor that dragged the USD/JPY pair lower.
On the other hand, the US dollar added to the previous day's losses and dropped to over a one-week low. This further contributed to the USD/JPY pair's intraday slide to a multi-day low, around the 121.30 region. That said, an uptick in the US Treasury bond yields, bolstered by hawkish Fed expectations, helped limit any further losses for the major, at least for now.
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