Dollar Retreats as Japanese Yen Climbs to 7-Month High at 153.48 per Dollar
US Treasuries yield higher gains while investors anticipate upcoming inflation data and the September Federal Reserve meeting.
The US dollar fell on Tuesday as the Japanese yen strengthened, reaching a seven-month high of 153.48 yen per dollar in Asian trading. The DXY index stabilized at 98.84 points amid rising yen gains driven by increased bets on Bank of Japan rate hikes. Treasury yields ticked higher during the session; the 10-year yield moved above 4.8063% and the 30-year yield climbed to 5.2708%. Traders are closely watching upcoming US inflation data, specifically the August producer price index expected Thursday, before the Federal Reserve's interest rate decision on September 15-16. Markets had previously reacted strongly to August's job report which added 162,000 positions.
