Light demand for bonds boosts yields
USD/JPY touched a session high of 114.17 on rising yields after a $23 billion 10-year note auction. The market was looking for a yield around 2.39% but it was 2.40%. It's the second weak auction after yesterday's 3-year sale also tailed (and also boosted USD/JPY).
Yesterday's high of 114.34 is the next notable level to watch.
