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USD/JPY drops to 122.60, 3-day low

FXStreet (Córdoba) - USD/JPY continued to decline below 123.00 during the American session and bottomed at 122.60, hitting the lowest level since Monday. The pair is back near the level it closed last week after erasing previous gains in a few hours.

Yesterday it peaked at 123.75, a 3-month high but then started to decline following FOMC minutes. The US dollar is suffering the biggest daily decline in five weeks against the Japanese yen and it was trading at 122.80.

Greenback is falling across the board amid profit taking. During the last hour it managed to trim some losses. The yen is rising also against the euro and the pound.

Stocks bounce, yields down

Stocks in Wall Street turned to positive territory and were at the highs with the Dow Jones gaining 0.19% and the Nasdaq up by 0.33%. US government bond yields were falling. The 10-year dropped from 2.27% to 2.23%.

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