"Currency Forecast: USD/JPY Breaks Resistance, EUR/USD & GBP/USD Decline"
TL;DR Summary
The US dollar strengthened due to surging US Treasury yields and positive economic data, with the DXY index rising sharply. FOMC Chairman Jerome Powell's remarks suggested a delay in reducing borrowing costs, contributing to the dollar's support. USD/JPY broke resistance and may rally further, while EUR/USD plummeted and faces potential support at 1.0720. GBP/USD broke below the 200-day simple moving average and may find support at 1.2455.
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