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USD lagging the Treasury move. US............>

DOLLAR
DOLLAR: USD lagging the Treasury move.
US Treasuries are breaking lower, developing a classic break out pattern, taking
10-year US yields above 3.0%.
However, the USD is lagging behind, so far. While DXY is showing signs of
gaining support, momentum indicators remain flat in neutral territory.
One place where USD seems to be gaining bullish momentum is against the JPY. The
JPY is the weakest of the G10 currencies on the day. USDJPY correlation to US
yields is also rising rapidly.
This is consistent with MNI Analysis showing a tendency for JPY weakness in Q4.
Our analysis has found several factors pointing to yen weakness into year-end,
including - 
- Seasonals
- Portfolio flows
- Positioning
- Policy factors

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