Headlines:

Markets:

  • USD leads, JPY lags on the day
  • European equities higher; S&P 500 futures down 0.2%
  • US 10-year yields up 4.3 bps to 4.141%
  • Gold down 0.5% to $2,024.98
  • WTI crude up 1.1% to $74.71
  • Bitcoin up 1.2% to $44,723

It was a quiet session for the most part but things are starting to pick up now as we pass the baton to US trading.

Treasury yields nudged back and forth but are now looking to settle higher. And that is putting a slight bid in the dollar across the board.

USD/JPY was already an early mover, climbing above 149.00 before extending gains to 149.20-30 levels now to the highs for the year. There was some dovish BOJ commentary to ascribe to the move but a technical break above the January high of 148.80 is arguably a bigger driver of price action at this stage.

With 10-year yields up 4 bps today to 4.141%, the dollar is starting to push for some advantage now. EUR/USD is down 0.2% to 1.0755 after sellers held at the 100-day moving average of 1.0785. Meanwhile, GBP/USD is taking a peek back under the 1.2600 mark again currently.

As US futures are holding slightly lower, the aussie and kiwi are also laggards so far. AUD/USD is down 0.4% to 0.6490 with NZD/USD also down 0.4% to 0.6085 at the moment.

Among the highlights to watch out for in US trading later are the weekly jobless claims and also the 30-year notes auction.