US Dollar Outlook: USD/JPY Mired by Yields, Flash PMIs Due 2021-07-22 22:30:00 Rich Dvorak, Analyst USD/JPY PRICE OUTLOOK: STRONG PMI DATA MIGHT STEER YIELDS & DOLLAR HIGHER The US Dollar whipsawed on Thursday and helped the DXY Index reverse its -0.3% decline USD/JPY price action weakened as Treasury bond yields struggled to extend their rebound Flash PMIs scheduled for release tomorrow could weigh on risk trends ahead of the FOMC Bookmark and revisit our Real Time News page for breaking market news and analysis US Dollar bulls and bears battled for directional control during Thursday’s trading session only to see the DXY Index close practically flat. The broader US Dollar weakened as much as -0.3% at intraday lows, which seemed to track downward pressure on Treasury yields that followed disappointing weekly jobless claims data.