USD/JPY at the lows of the day
The market US 10-year yield is down 3.5 basis points to 1.99%. The note has given back all of yesterday's move and remains near cycle lows.
That's a surprise given the good news from Trump-Xi and yesterday's better ISM print. The market is sending some worrisome signals about the global economy.
In turn, USD/JPY has slipped to the lows of the day and is now in the gap from the open yesterday.
I wrote about forex seasonals for July yesterday and noted that it's an interesting month for USD/JPY.
