Yen continues to firm as Treasury yields fall further on the sessionpetar skakalov
US 5-year yields fall to a record low of 0.255%
Meanwhile, 10-year yields are seen lower by 2 bps to 0.558% and that is weighing across yen pairs as the bond market is looking to make waves towards the end of the week.
As warned earlier, this is one spot to watch ahead of the weekend as a break below the floor of around 0.54% to 0.56% in 10-year yields could lead to a fresh wave of bids in the yen – especially if USD/JPY slips back under the 106.00 handle as well.
Source: Technical analysis