The Japanese yen experienced downward pressure following new economic data indicating a decline in factory activity and a contraction in the services sector. March's manufacturing PMI dropped to 48.3, its lowest in a year, and the composite PMI fell to 48.5, reflecting ongoing contraction. This weak domestic activity may sour investor sentiment toward the yen. Meanwhile, Japanese bond yields showed some rebounds as market reactions to the Bank of Japan's (BoJ) stance on interest rates continue to unfold, with future conditions heavily reliant on economic indicators and BoJ policies.
The Japanese yen faced downward pressure as traders reacted to new economic data.
Japan's manufacturing PMI fell to 48.3 in March, marking the lowest level in a year, while the composite PMI dropped to 48.5, showing contraction across both manufacturing and services.
While bond yields may see some upward movement if the BoJ adjusts its stance on inflation, the yen is likely to remain under pressure in the near term due to weak economic data.
The outlook for both the yen and bond yields remains tied to the BoJ's policy decisions and the broader economic environment.
Collection
[
|
...
]