The pair is down almost 1% on the day to 151.50 ranges, with value now at its lowest ranges since 6 November. What’s extra notable although is that sellers need to push for a break beneath the 200-day transferring common (blue line). The important thing stage is seen at 151.97 and that will probably be a giant blow to the post-election upside momentum.
USD/JPY vs US Treasury 10-year yields (%) each day chart
In flip, that now attracts within the early November lows round 151.27-33 as the subsequent key help stage. A break of that may then release room for the pair to roam in direction of the draw back to 150.00 doubtlessly.
The newest drop right here comes as we see bond yields additionally retreat additional on the week. 10-year yields within the US are actually down almost 4 bps to 4.265%. After the US election, the excessive for yields touched 4.505% so we’re down roughly 24 bps from that.
Moreover that, the greenback can be down throughout the board with EUR/USD up 0.4% to 1.0525 and GBP/USD up 0.3% to 1.2610. Even AUD/USD is up 0.3% to 0.6495 and NZD/USD is now up 1.0% to 0.5895 again close to the highs for the day.
There is not any main set off for the strikes we’re seeing on the session to date. So, is that this maybe all tied to some month-end shenanigans earlier than the Thanksgiving holidays kick in? From yesterday: Potential for greenback promoting this month finish – Deutsche
