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Dollar off the boil- USD/JPY drops back as US yields slip
Since earlier this morning US treasury have slipped. The 10 year note was around 4.45% earlier, it is now tracking back to 4.40%. This has certainly taken the heat out of the dollar and allowed the EUR/USD to rebound, from a new 2024 low at 1.0594, to around 1.0625 right now. Perhaps more importantly, it has stopped the USD/JPY from rising above 155.25 and pushed it back down towards 154.75 a moment ago. The lower yields have seemingly helped the Dow Jones futures egde a little higher, but they are still in the red for the time being. The USD/JPY peaked earlier at 155.24. It is currently trading at 154.84
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