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USD/JPY continued to stretch higher and touched its strongest level since July above 158.50 on Wednesday. At the time of press, the pair was trading at 158.48, rising 0.27% on a daily basis.
Rising US Treasury bond yields support USDUS President-elect Donald Trump is considering declaring a national economic emergency to allow for a new tariff program, CNN reported on Wednesday, citing four sources familiar with the matter. With the immediate reaction, the benchmark 10-year US Treasury bond yield rose above 4.7%, boosting the US Dollar (USD).In the early American session, the Automatic Data Processing (ADP) will release the private sector employment data for December, which is forecast to show an increase of 140,000 after November’s print of 146,000. Later in the day, the Federal Reserve will publish the minutes of the December policy meeting. Investors will scrutinize the details surrounding the discussions on the policy outlook for 2025 after the revised Summary of Economic Projections showed a majority of policymakers were forecasting two 25 basis points rate cuts this year.More By This Author:Gold Price Remains Confined In A Range Amid Mixed Cues; FOMC Minutes In Focus Australian Dollar Changed Its Course Ahead Of Inflation Data, USD Recovers WTI Oscillates In A Range Below $73.00 Mark, Downside Potential Seems Limited
