News that Uncle Ben is on the bid in bonds has sent prices jumping and yields sliding. 10-year Treasuries are now down about 40 bp in yield to 2.55%.
USD/JPY is particularly hard hit because as yields fall the attractiveness of the dollar for Japanese investors wanes. The buck trades now at 95.70 and falling fast.
EUR/USD is on a 1.34 handle. Next resistance is the 50% retracement of the slide from 1.47 at the 1.3586 level. Look for 1.3325 to provide support on pullbacks.
