Receding fears of a global double-dip recession are pushing US yields sharply higher today.
2-year notes are 4 bp firmer in yield while 10-year notes are up 7 bp in yield.
EUR/JPY is supported mostly by the big rally in the EUR/USD leg today but the firmer rate profile adds a bit of a tailwind to the cross.
The 114.00/05 area is the upside target for the cross, which stands now at 112.82. USD/JPY is trapped in a very very tight range. Supports are seen at 91.70 and 91.60; resistance is at 92.12.
