USD/JPY has another look at 107.00
Read full post at forexlive.com
It stalled here yesterday
Better initial jobless claims had little effect on the foreign exchange market but one spot to watch is in USD/JPY, which stalled out at 107.00 yesterday in a minor double top. It fell to 106.57 in Asia but has battled back to a high of 106.99.
It sits just below there at the moment with many eyes watching the bond market. US 10-year yields are up 0.7 bps to 0.6817% today with the rest of the curve slightly lower. There will be a 30-year sale later today.
A break higher clears the way for a return to the late-June high of 107.44 and would be a fifth consecutive gain.