The yen continues to tumble across the board with USD/JPY pushing to fresh highs in over six years now, hitting 120.60. It looks like the break above 120.00 is being secured and that could pave a clearer path towards 125.00 next.
The latest jump in European morning trade comes as Treasury yields also push higher on the session:
- 2-year yields +6.3 bps to 2.197%
- 5-year yields +4.8 bps to 2.388%
- 10-year yields +4.0 bps to 2.357%
- 30-year yields +4.1 bps to 2.576%
Most other yen pairs are also up by over 1% on the day with AUD/JPY up to 89.39 and targeting 90.00 next.
