US dollar under broad pressure as the mood improves. USD/JPY nears 105.00

Dollar at the lows

USD/JPY is flirting with 105.00 as broad US dollar selling takes hold.

There was a reversal in Treasury yields today as 10s it a post-pandemic high of 1.39% but have since pulled back to 1.34%. Equities are also paring losses and oil is on a run.

The dollar might be the big dog wagging its tail though and leading to those moves elsewhere. USD/JPY is now down 43 pips on the day. A fall below 105.00 would be the first time below since Valentine’s Day.

Dollar at the lows

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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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