The USD/JPY pair is trading in a relatively tight range on Wednesday as the rising US T-bond yields offset the broad USD weakness. As of writing, the pair was up 0.12% on a daily basis at 111.44.
The US Dollar Index, which advanced to a multi-week high of 97.52 on Tuesday, reversed its course today with the greenback struggling to find demand in the risk-positive environment. The data published by the ADP earlier today revealed that the employment in the private sector increased 129K in March and fell short of the market expectation of 170K. While investors are waiting for the ISM's and the IHS Markit's Services PMI data, the DXY is losing 0.22% on the day at 97.10.
Source : FXstreet