The USD/JPY pair is rising, driven by renewed momentum supported by the ongoing divergence in monetary policies between the Federal Reserve and the Bank of Japan.
Gold prices fell as the US dollar strengthened and Treasury yields rose, retreating within a recent consolidation range. A partial resolution of political uncertainty also influenced prices.
"After declining for five consecutive weeks, the 30-year fixed-rate mortgage moved slightly higher following a stronger than expected jobs report," says Sam Khater, Freddie Mac's chief economist.