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Higher Yields lead the Dollar

FOREX
  • The Yen has been under considerable pressure across the Board as Yields continue to rise.
  • USDJPY spiked through the 125.09 level, and above the resistance at 125.28 High Aug 12 2015, after US 10yr hits highest level since January 2019, above 2.75%.USDJPY printed a 125.44 high at the time of typing.
  • Despite the rally in USDJPY, the EUR is the best performer today against the YEN, up 1.09%.
  • Next immediate resistance comes at 136.84 High Mar 31.
  • And a clear break above the latter opens to the March 2022 high at 137.53.
  • The Dollar has pared some of the early gains, with the EUR now up 0.28% against the Greenback.
  • The SEK, GBP and CHF are back to flat versus the Dollar, while in the green with JPY, NOK, AUD, NZD and the CAD.
  • Looking ahead, there are no tier 1 data left for the session.
  • Speakers include, Fed Bostic, Bowman, Waller and Evans.
  • But attention turns to UK and US inflation data, as well as the ECB this week.
  • Also some expected hikes from the RNBZ and BoC.
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