USD/JPY struggles near 110.0 amid higher US Treasury yields

• USD/JPY edges lower in the initial Asian trading hours on Wednesday.
• US Dollar Index slips below 93.00 on downbeat economic data.
• A rebound in the US Treasury yields capped the downside for the US dollar.

 The USD/JPY pair remains on the lower edge in the Asian session. The pair continues to trade in a familiar range with limited upside movement.

At the time of writing, USD/JPY is trading at 110.00, down 0.02 % for the day.

The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades below 93.00 with 0.01% losses as investors ditched the USD after FOMC Chair Jerome Powell’s comment.

The US 10-year benchmark Treasury yields trade higher at 1.30% with 1.80% gains.

The Chicago Business Barometer fell to 66.6 in August from 73.4 in July, much below the market expectations of 68.

On the other hand, the Japanese Yen remained on a lower track after the general improved risk sentiment.

Meanwhile, Japan’s unemployment rate unexpectedly came at three month low of 2.8% in July, while housing starts rose more than estimated by 9.9% in July.

As for now, investors wait for Japan’s Jibun Bank Manufacturing PMI, US ADP Employment Change data, ISM Manufacturing PMI  to gauge the market sentiment.

USD/JPY additional levels