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No rebound for EUR/USD even as USD/JPY slides
The noted slide in the USD/JPY has now extended close to the 146 handle, but as yet that has not benefitted the other major currencies in dollar terms. The simple explanation for that is all about those Yen crosses sliding at the same time. The EUR/JPY and GBP/JPY have been hit at the same time. Both of those are now nursing losses of close to 1% on the session as those higher JGB yields weigh on all the major Yen pairings. That has kept the EUR/USD from bouncing at all so far this morning. The EUR/USD had closed in the US last night at 1.0764. It has traded a range so far today of 1.0755 to 1.0772. It is just now at 1.0765
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