The dollar runs higher as bond yields rise
Forget scratching our heads about the data, US bond yields are moving higher and the dollar is going along for the ride.
US 10yr yields
USDJPY 15m chart
The charts are almost identical, and USDJPY hit it's high the same time as the yield above did. I need to repeat the mantra "keep watching bonds" to myself 200 times.
USDJPY is up testing the day's highs so a break is on while yields keep rising (10's have just traded at 2.40%).
BTW that 114.00 print on the chart above is wrong. 114.20 was the low just prior to the data.
