Bonds keeping bid under surging USD/JPY
USD/JPY is just 8 pips from 125.00 as momentum behind the pair continues. Everything is beginning to align for the pair.
In last week's breakout, the bulls were concerned by that Treasury yields were rising. Today, US 10-year yields are up 6 bps to 2.18%. the turnaround springs from the early April low of 2.10%.
US 10-year yields