US bond yields are backing up sharply today, helping prompt some short-covering in USD/JPY. 10-year notes are almost 30 bp firmer in yield from Tuesday morning’s lows, a sign that jitters are dying down regarding the sovereign debt saga.
USD/JPY is stalling ahead of 91.00 and EUR/JPY at 111.50 so far. Stops are seen above 91.10 and above 111.60 in EUR/JPY larger stops are above 112.00 resistance.
