Headlines:
- Japan finance minister says closely watching FX moves with a great sense of urgency
- A slight breather in bond selling for now
- USD/JPY stays poised in push towards the 150 mark
- Risk mood begins to sour ahead of European trading
- ECB's Müller says that as things stand, not expecting any more rate hikes
Markets:
- EUR leads, AUD lags on the day
- European equities lower; S&P 500 futures down 0.4%
- US 10-year yields down 4.3 bps to 4.498%
- Gold down 0.2% to $1,910.67
- WTI crude down 0.9% to $88.90
- Bitcoin down 0.2% to $26,229
It was a quiet session for the most part, mostly due to a lack of headlines during the session.
There were no major economic releases, so market players were left to their own devices in European trading. The dollar is keeping steadier overall as equities are seen retreating again today, with sentiment continuing to be rocked by higher bond yields.
The latter was more of a factor earlier on, with 10-year Treasury yields briefly hitting 4.56% - its highest since 2007 - before keeping around 4.50% currently.
USD/JPY also nudged up to a high of 149.20 before a quick verbal pushback by Japan finance minister Suzuki saw the pair fall back to flattish levels now at 148.88 on the day.
Elsewhere, EUR/USD is sticky around 1.0600 with large option expiries at the figure level in play while AUD/USD is down near 0.6400 as the risk mood remains iffy at best, falling back after a decent showing by Wall Street yesterday.
