10-year Treasury yields were down to nearly 4.31% earlier but are now back up to 4.34% in European trading. It comes as bond sellers are staving off a drop below the 200-day moving average close to 4.33%, at least for now.
In turn, that is keeping the dollar steadier on the session. EUR/USD and GBP/USD are both marginally lower by 0.1% at 1.0870 and 1.2668 respectively. Meanwhile, USD/JPY has erased nearly all of its earlier losses in Asia with a slow grind higher from 153.90 to 154.80 currently.
The commodity currencies are also lagging a little with AUD/USD down 0.2% to 0.6675 at the lows. The aussie is not helped by a softer labour market report earlier here.
That said, the moves here are still relatively light if you compare them to yesterday. It's also still early in the day as we do have the US weekly jobless claims coming up. Anyway, just keep an eye out on the bond market if anything else. We're at a key juncture for 10-year yields, so it is one that is well worth watching.
