10-year Treasury yields are pushing higher, up over 4 bps to 4.142% currently. And that is helping to put a slight bid in the dollar at the tail end of European trading. USD/JPY was an early mover as noted here but is now up 0.8% to 149.38 on the day. Meanwhile, GBP/USD is now down 0.3% to 1.2590 and looking to break back to the downside after a brief look above 1.2600 yesterday:
Elsewhere, EUR/USD is down 0.2% to 1.0750 as its 100-day moving average of 1.0785 holds the downside momentum. The antipodean currencies are also lagging a fair bit as equities are looking a little sluggish at the moment. AUD/USD is down 0.4% to 0.6490 with S&P 500 futures down 0.2% on the day currently.
The notable development ahead of US trading is a push higher in yields but just be wary that we also got the same kind of price action yesterday as well. Looking ahead, there is the 30-year notes auction to look forward to later. That could play a role in pushing yields back in what has been a rather back and forth week so far.