USD/JPY climbs in broad US dollar rally

The US dollar is back in style.

It's at the best levels of the day across the board, including USD/JPY where it finally cracked 113.00.

The gains come amidst a slump in bonds that's pushed US 10-year yields up 3 bps to 2.37%.

Next, USD/JPY may head towards another test of the tough 114.50 range. I think a level like that can only be rejected so many times before it inevitably breaks through.