USD/JPY touches a high of 110.60 on the day
The pair is climbing back up towards the 200-hour MA (blue line) as the turnaround in yields is prompting yen crosses to move higher on the session. US 10-year yields are up by 1.8 bps to 1.37% currently, after having fallen to 1.31% earlier.
It has been a mixed session for risk with European stocks also having pared heavy losses earlier but are still trading lower, catching up to the larger losses in Wall Street yesterday.
Looking ahead, North American traders will have a key debate to settle and that is whether or not there is scope for a bit of a turnaround after the risk rout over the past two days.
