Yen feels the heat as US Treasury yields climb

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Yen feels the heat as US Treasury yields climb
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First-ever speedcubing competition in P.E.I. draws large crowd | SaltWire #rubikscube #charlottetownSINGAPORE - The dollar was tentative on Tuesday as it failed to get a meaningful boost from a rise in U.S. Treasury yields, though that kept pressure on the yen which languished near multi-decade lows and left traders on alert for any signs of intervention.

"USD/JPY will continue to move in a tight range from 151.0-152.5," said Ryota Abe, an economist at SMBC. Sterling tacked on 0.04% to $1.2658, while the euro steadied at $1.0860, holding near a two-week high. "It's been a few days now, where we're seeing an increasing disconnect between what's happening in U.S. Treasuries, in particular an ongoing new year-to-date highs in Treasury yields, but the dollar is failing to respond to that," said Ray Attrill, head of FX strategy at National Australia Bank .

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