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It’s shaping up to be a rough end to the week for the dollar as markets are finally following through on the moves on Tuesday. Treasury yields are pushed lower and the greenback is suffering for it, with USD/JPY now down 0.9% to 149.30 on the day.

USD/JPY vs US Treasury 10-year yields (%) daily chart

10-year yields are down 5.2 bps to 4.392% and stocks are looking to work with that to finish the week with a flourish. European indices are up roughly 1% while S&P 500 futures are now up 0.2% on the day after a bit more of a tentative start.

Going back to the dollar, it is even trading lower against the euro and pound now with EUR/USD up 0.2% to 1.0870 and GBP/USD up 0.2% to 1.2433. The latter traded to a low of 1.2375 earlier on after softer UK retail sales data.

The antipodeans are also capitalising on that, with AUD/USD testing waters above 0.6500 again in trying to chase a technical breakout as outlined here.


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