USD/JPY is now up 0.4% on the day to 148.90 levels as the dollar is finding some scope for recovery in the transition from Asia to European trading. There’s no headlines really driving the move, with bond yields also still largely unchanged for the most part today.
USD/JPY vs US Treasury 10-year yields (%) daily chart
It seems like flows are acting up amid lighter trading conditions nearing the end of Tokyo trading. I wouldn’t look too much into it but it is helping to see the dollar stabilise somewhat against other major currencies too.
In particular, AUD/USD is now down 0.3% to 0.6535 after coming close to test its 200-day moving average in trading yesterday here.