There’s not much in it so far today as we’re still caught in the midst of the Thanksgiving holiday period in the US. Major currencies are lacking appetite for the most part, after the dollar traded more mixed yesterday. USD/JPY is down 0.2% to 149.27 but the slight drop today comes after a decent bounce back to above 149.00 yesterday.
Looking at broader markets, it’s all rather tentative at the moment. And that is not leaving traders much to work with as we get into the final stretch of the week.
US markets will return today but Wall Street will see a shortened day in any case, not to mention with the lack of liquidity. In the bond market, 10-year Treasury yields are up 4.5 bps to 4.460% as we do see the 100-day moving average at 4.366% currently hold up. That will continue to be the critical level to watch going into next week.