US dollar jumps across the board after USD/JPY move

USD/JPY leading the way again

Every fresh seven-year high in USD/JPY prompts another wave of buying. This leg was strong enough to boost the dollar right across the board.

It comes with 10-year Treasury yields ticking higher to 1.608% but not yet to the Friday high of 1.62%. If that gives way, we could see another leg. Note though that there's a 10-year auction today at 1 pm ET.

I would expect this move to transition into more of a 'sell-the-yen' trade across the board but equities might have ideas of their own.

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October 13, 2021 at 12:45AM
Adam Button
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