USD/JPY is falling on this report.

USDJPY 10 mins
USDJPY 10 mins

The Bank of Japan meets later today but this report doesn't specify a timeline for reducing government bond buys.

Aside from USD/JPY, the US dollar is broadly strong as Treasury yields continue to climb. US 10-year yields are up 7.5 bps to 4.72% -- the highest since November.

While this report is good for the yen, it's also a drag on global bonds.

We get a 7-year Treasury sale at 1 pm ET.