USD/JPY 10 minutes
The US dollar has extended further following the initial jobless claims report. The big winner is USD/JPY , which is now nearly 150 pips higher as yields rise.
US 10-year yields are up 4 basis points and trading just above 4% after falling as low as 3.67% on Monday.
Yesterday, the Bank of Japan retreated from a hawkish stance in light of a rout in Japanese equity markets and a surge in the yen. With the reversal, the yen is back under pressure and US trader may try to break the top of the range at 147.95.