- USD/JPY prints minute gains on Tuesdsy the initial Asian trading hours.
- US Dollar Index slips below 93.00 on dovesh US Fed outlook.
- Lower US Treasury yields augmented the downside for the US dollar.
The USD/JPY pair remains on the higher edge in the Asian session. Despite the weakness in the greenback, USD/JPY manages to trade modestly higher as the Japanese Yen struggles to find demand on the domestic COVID-19 situation.
At the time of writing, USD/JPY is trading at 109.90, up 0.04 % for the day.
The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades below 93.00 with 0.02% gains as investors ditched the USD after FOMC Chair Jerome Powell’s comment.
The US 10-year benchmark Treasury yields trade lower at 1.28% with 2.30% losses.
On the other hand, the Japanese Yen remained on a lower track after the general improved risk sentiment.
Meanwhile, the total coronavirus cases were recorded at 1.46 million on Monday.
As for now, investors wait for Japan's Jobless Rate, Preliminary Industrial Output, and US Chicago PMI data to gauge the market sentiment.