January 27, 2023

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Treasury yields pare early drop to start the session

1 min read

Dollar starts to see some light bids flow through


10-year yields are now back up to 1.54% from around 1.51% earlier and that is seeing the dollar start to gather some light supportive flows to start European trading.

EUR/USD is down to a low of 1.1590 while USD/JPY has pushed back up slightly above 112.00 and is contesting key resistance from the figure level now:

USD/JPY D1 30-09

The 2020 high @ 112.23 also offers an additional layer of resistance but it will be tough to argue against further gains in the greenback as other dollar pairs are also showing signs of a further breakout.

GBP/USD has also pared its earlier gains in a fall from 1.3450 to 1.3416, with the pair continuing to dribble towards its lowest levels since December last year.

As mentioned earlier, while the dollar is a bit slow in getting off the bed today, best be reminded that it also got off to a slow start yesterday before things escalated going into North American trading and the dollar ended up as the big winner.

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