USD/JPY falls to a low of 104.23
Yen crosses are all moving to session lows on the day as the risk averse mood in the market is gathering pace on the day. US futures are down by ~2.7% while we are seeing Treasury yields fall further across the curve. 10-year yields are now down by 15 bps today:
In turn, that is also weighing on the dollar a little as we see EUR/USD climb to a session high of 1.1348 while cable back above 1.2900 close to 1.2930 currently.
The bounce yesterday sure looks to be a short-lived one as the market is sticking with old habits once again amid the economic fallout from the virus outbreak.
