USD/JPY inches back above 106.00 as yields lurk higher


USD/JPY moves up to 106.05 to start European morning trade

USD/JPY D1 25-02

This comes as Treasury yields are at the highs for the day, with 10-year yields up 4.5 bps to 1.421% and 30-year yields up 5.5 bps to 2.289%. This is putting some downward pressure on the yen and will be a key spot to watch – similar to yesterday.

The 106.00 handle has helped to limit gains in USD/JPY so far this month – at least in terms of the daily chart – so this remains a key level ahead of the weekend.

Meanwhile, the shove higher in yields is also starting to have some impact on equities sentiment with S&P 500 futures paring gains to flat levels and Nasdaq futures now seen down 0.1% as things get underway in Europe.



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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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