# USD/JPY is in the middle of big reversal as Treasury yields rebound

> USD/JPY reversed upward on July 31 as US Treasury yields rebounded from record lows, with 5-year yields at 0.23% and 10-year yields near 0.56%. Traders also flagged possible Japanese Ministry of Finance intervention.

- Date: 2020-07-31 · published 2020-07-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/52344-usd-jpy-is-in-the-middle-of-big-reversal-as-treasury-yields-rebound
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Rising US yields tend to support the dollar, which pressures dollar-denominated commodity prices and can lower imported feed costs for yen-based buyers.

## Read by commodity

- DXY: bullish ▲
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-06-28 | [USD/JPY remains strong above 110.80 amid higher US Treasury yields — Octa](https://feedsoft.ai/events/46841-usd-jpy-remains-strong-above-110-80-amid-higher-us-treasury-yields-octa.md) | +0.5% | +1.1% |
| DXY | 2023-10-25 | [Dollar up as risk sentiment sours, Treasury yields rise \| Reuters](https://feedsoft.ai/events/33816-dollar-up-as-risk-sentiment-sours-treasury-yields-rise-reuters.md) | +0.2% | -2.4% |
| DXY | 2021-09-27 | [U.S. dollar gains, tracks rise in Treasury yields](https://feedsoft.ai/events/45255-u-s-dollar-gains-tracks-rise-in-treasury-yields.md) | +0.5% | -0.1% |
| DXY | 2016-11-24 | [Pace of China’s sale of US Treasurys in focus as the yuan plumbs new lows](https://feedsoft.ai/events/74063-pace-of-china-s-sale-of-us-treasurys-in-focus-as-the-yuan-plumbs-new-lows.md) | -0.3% | +0.7% |
| DXY | 2018-04-23 | [US Treasury yields tick higher ahead of economic data](https://feedsoft.ai/events/65436-us-treasury-yields-tick-higher-ahead-of-economic-data.md) | +0.9% | +3.3% |

## Sources

- investinglive.com: https://investinglive.com/news/!/usdjpy-is-on-the-move-20200731

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