Key events today:

12:30 UTC: USD – Changes in income/expenditure levels.

The Japanese Yen (JPY) remains stable after Friday’s release of the Consumer Price Index (CPI) data by the Statistics Bureau of Japan. In May, the CPI rose to 2.2% year-on-year compared to the previous 26-month low of 1.8%.

The Bank of Japan (BoJ) maintains a deeply entrenched stance on monetary policy. If national inflation in Japan decreases, it will not allow the central bank to raise interest rates. A significant difference in rates between Japan and other countries continues to put pressure on the Japanese yen, supporting the USD/JPY pair.

The US Dollar (USD) is recovering ahead of the release on Friday of the Personal Consumption Expenditures (PCE) Price Index, which is the preferred inflation measure for the Federal Reserve. A decrease in the yield of US Treasury bonds may limit the growth of the US Dollar.

The US Dollar Index (DXY), which measures the value of the US dollar relative to six other major currencies, is trading higher at around 104.80, and the yields of 2-year and 10-year US Treasury bonds were 4.92% and 4.54%, respectively, at the time of press publication.

Recommendations: Predominantly consider buy orders at a price level of 157.00. Consider sell orders at a price level of 156.30.