US dollar under broad pressure as the mood improves. USD/JPY nears 105.00
Dollar at the lows
USD/JPY is flirting with 105.00 as broad US dollar selling takes hold.
There was a reversal in Treasury yields today as 10s it a post-pandemic high of 1.39% but have since pulled back to 1.34%. Equities are also paring losses and oil is on a run.
The dollar might be the big dog wagging its tail though and leading to those moves elsewhere. USD/JPY is now down 43 pips on the day. A fall below 105.00 would be the first time below since Valentine's Day.