There has been a pickup in rates in the US with the 10 year now trading at 3.638%. That's up about 12 basis points on the day. The 2 year yield is above the 4% trading at 4.0923% up 9.7 basis points on the day.

The rise in yields is sending the major US indices back in the red in premarket trading. The S&P index is down -9.5 points. The Dow industrial average is down -32 points and the NASDAQ index is down -48 points as the opening bell is minutes away..

Crude oil prices are moving higher with the November contract now up 3.25%.

The USDJPY is seeing a bounce off of its lows at 140.326 as it rises in reaction to the US yields moving higher. The price has rebounded back up to a corrective high of 141.557. That is where the price bottomed on September 9 and again on September 13 (between 141.497 and 141.598). Get back above that swing area and traders will target 142.00 next.