USD/JPY falls to 107.20, the lowest level since 18 May
Sellers are back in near-term control on a break under the key hourly moving averages, and notably driving price below some near-term support around 107.34-40.
That has seen the yen accelerate gains against the dollar, with 10-year Treasury yields also slumping to session lows – down by nearly 3 bps to 0.662%.
All eyes will be on that now but the dollar in general also isn’t faring too well ahead of European trading, so that is adding to the softness in USD/JPY here.
EUR/USD is back up to 1.1100 while the pound is also holding slight gains against the greenback currently, with cable also seen at session highs of 1.2342 currently.