12 August 2020, 17:59 The global risk sentiment remain well supported
The USD/JPY pair maintained its bid tone through the early North American session, albeit has retreated around 20 pips from three-week tops set earlier this Wednesday.
The pair added to this week's positive move and gained some follow-through traction for the fourth consecutive session on Wednesday. The uptick was sponsored by the prevalent risk-on mood, which tends to undermine the Japanese yen's safe-haven demand.
The global risk sentiment remained well supported by the optimism over a vaccine for the highly contagious coronavirus diseases and hopes of a US economic recovery. Bulls further took cues from some strong follow-through pickup in the US Treasury bond yields.
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