# USD/JPY drops toward 110.50 on plunging US Treasury bond yields — Octa

> USD/JPY fell about 0.35% to 110.55 after US 10-year Treasury yields dropped to 1.35%, their lowest since February. The ISM Services PMI slipped to 60.1 in June from 64 in May, below the 63.5 forecast.

- Date: 2021-07-06 · published 2021-07-06T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/46304-usd-jpy-drops-toward-110-50-on-plunging-us-treasury-bond-yields-octa
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Softer US services data and lower yields weaken the dollar's yield support, which can ease pressure on dollar-priced commodities, though the effect on feed markets is small.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-01-29 | [Gold drops following the Fed keeping rates unchanged, (targets 1.5% to 1.75%). — Octa](https://feedsoft.ai/events/54995-gold-drops-following-the-fed-keeping-rates-unchanged-targets-1-5-to-1-75-octa.md) | +0.2% | +1.5% |
| DXY | 2025-08-28 | [GBP/USD slips towards 1.3500 as US GDP beats forecasts, PCE in focus](https://feedsoft.ai/events/23593-gbp-usd-slips-towards-1-3500-as-us-gdp-beats-forecasts-pce-in-focus.md) | +0.0% | -0.2% |
| DXY | 2020-11-12 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Third Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/50328-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | -0.5% | -1.7% |
| DXY | 2025-05-15 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the First Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/24857-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | -0.8% | -2.0% |
| DXY | 2023-02-09 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Fourth Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/37521-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | +0.3% | +1.1% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/911306/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.