Us bond yields are substantially firmer this morning, up to 3.55% from 3.49% at Friday’s close. Lots and lots of Treasury supply is set to hit the market this week, so traders are pushing up rates to buy the bonds off the government cheaper.
USD/JPY is up to 92.05. Exporter offers are sitting up at the 92.20/30 area again on strength.
Firm US equities and a rise in commodities are helping lift EUR/JPY as the risk trade comes back into vogue. The cross trades near 138.30. 138.70 is key resistance above the market.