USD/JPY erases losses

USD/JPY is back to flat on the day at 110.32. It's now within striking distance of yesterday's high of 110.45.

The pair touched a session low of 110.04 two hours ago but it's turned around along with Treasury yields. US 10s are at 3.087% from a low of 3.056%. The high is just a sliver away from yesterday's best level, which was also the best level since 2011.

Watch for buy stops if 110.45 breaks.


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