USD/JPY jumps as bond yields grind higher

USD/JPY at the highs of the day

The US dollar is getting a broad bid but the main move is in USD/JPY, which has risen to 108.90 from 108.70 in the past 30 minutes.

The gains come with Treasuries selling off. The US 10-year note is up 2.6 bps to 1.647% after hitting 1.58% in Asian trade.

In USD/JPY, the downtrend over the past week has given way and it’s back into the consolidation range where it’s spend the past two weeks after the big run from 103 to 109.

USD/JPY at the highs of the day

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