The usual suspect is keeping USDJPY down near the day’s lows
It’s pretty automatic these days, to look at US bond yields when looking at USDJPY. US 10yr bonds have had another look at 2.40% and been seen off. We’re down around 2.37%.
The yield couldn’t find support against the former resistance level and there’s a couple of other minor levels in play down towards 2.30%. USDJPY hasn’t shown much interest to do anything today anyway but intraday support is holding.
Tomorrow we start cranking up the data action with manufacturing and services PMI’s from Europe and the US. Into Wednesday and we get a first look at UK GDP, which will a biggie for the pound and BOE watchers.
Markets are pretty lethargic today, and that matches my feelings after a cracking night watching Metallicca yesterday evening. For a bunch of fellas who’ve been bashing out the metal for over 30 years, they still put on a great show.
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