After falling below 1.6%, U.S. 10 bond yields rose higher during the European session at 1.62%. This increase gave impetus for the USD/JPY pair to rise slightly and traded around the price of 108.66.
However, the US dollar remained weak at a six -week low against most major currencies.
This weakness continues to benefit most major currencies to rise higher.
The pound depreciated slightly after hitting 1.4000 at the beginning of the European session, but remained traded higher around 1.3990 against the US dollar.
The release of encouraging UK jobs data has provided additional support for the currency to a six -week high against the weaker USD.
The UK unemployment rate fell to 4.9% in the three months to February from 5.0% previously estimated. The reading recorded was also better than expected for a 5.1%increase.
Meanwhile, the euro remained strong above 1.2000 against the USD, on the back of expectations of a stronger recovery following the launch of the vaccine in Europe.
Positive news about Pfizer and BioNtech that will supply an additional $ 100 million doses of vaccine to the European Union (EU), was welcomed by the market.
