Greenback drifts away from three-week peak against yen

Greenback drifts away from three-week peak against yen

On Thursday, the evergreen buck eased against the Japanese yen as a recent soar tied to bets on another American interest rate lift this year lost steam. Meanwhile, the New Zealand dollar tacked on after its major bank stopped short of persistently trying to talk down the national currency.

The New Zealand dollar appeared to be the big mover during Asian trade, ascending 0.4% on the day to $0.7248, moving back in the direction of a four-month high of $0.7320 set the previous week.

The Kiwi inched up after New Zealand's key financial institution played down the recent surge in the national currency, while keeping interest rates intact at record minimums as experts had widely expected.

The greenback dipped 0.2% versus the Japanese yen, reaching 111.15, drifting away from a three-week peak of 111.79 yen demonstrated on Tuesday.

The US 10-year bond yield is currently 209 basis points higher than its Japanese rival, compared to levels approximately 237 basis points observed in the early part of May.


The US NFP Update: What to Wait for?
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The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on May 6, at 15:30 MT time.

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