Yen surges in early US session with USD/JPY breaking key near term support of 108.27. US stock opened higher but are now trading off highs. Though, major indices are still in black and that’s likely not the reason for the rally in Yen. Instead, the sharp fall in treasury yield is likely what’s behind the move.
At the time of writing, US 10-year yield is down -0.0552 at 1.865. The break of 1.87 near term support now opens up the way for 1.7 handle.
