The US refunding announcement has been greeted by a big surge in US yields. 10 year notes are back up to the 2.92% level after the news. As noted last week, the break of the 2.72% level on the yield chart opened the door to a rebound to 3.25%.
At some point, the jump in yields should support the dollar. it may already be happening in USD/JPY which is rebounding toward the key 90.00 level. Offers are seen layered up through 90.50 from 90.00 but expect stops to be mixed in around 90.10/15 from weaker hands.
