USD/JPY bolstered by higher Treasury yields
After stumbling yesterday, the dollar is holding its own for the most part in European morning trade as it is also somewhat comforted by higher Treasury yields today.
10-year yields are up over 4 bps to 1.652% currently and that is pushing USD/JPY back up to test the 109.00 handle and near the highs seen yesterday.
EUR/USD is also trading closer to the lows for the day around 1.2120 while AUD/USD is seen down 0.2% to 0.7775 after treading water just above 0.7800 earlier in the day.
Going back to USD/JPY, holding a break above 109.00 would be a good foundation for buyers to build on but there is resistance nearby from the 50.0 retracement level of the April downswing seen @ 109.22 next.
