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USD/JPY Grinds Through Earlier High as US Tsy Yields Hit New April Best

JPY
  • USD/JPY grinds through the overnight highs alongside the European open to show above Y134.74. USD strength noted among most majors here, as GBP/USD consolidates off the session's best levels. Resistance at 134.75 seems to be capping prices here, marking the 61.8% retracement of the Mar 8 - 24 bear leg. No specific news trigger here, with volumes picking up through the European open.
  • Move triggered by a return higher for US Tsy yields, as the 10y touches 3.62, as equities show through yesterday's lows: the e-mini S&P has printed 4162.75 at the day's low just ahead of the formal opening for pre-market trade in single stocks after yesterday's post-bell earnings.

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