USD/JPY hourly chart
The pair is now down to its lowest level since last Monday in a drop below the 150.00 mark amid a continued fall in Treasury yields. 10-year yields are now down 6 bps to 4.385% and that is dragging the dollar down with it as USD/JPY is the notable mover, down by over 100 pips in trading today.
The dollar has also lost its light gains from earlier against the euro, pound, and kiwi and is now trading slightly lower against the likes of the franc, loonie, and aussie on the day.
The fall here is a big blow to the dollar’s resilience this week and reignites the debate of a potential technical breakdown across the board in the greenback as we look towards next week.