US recap: Yen weakness rallies crosses to fresh record highs, USD/JPY toward its 38-year high
July 10 (Reuters) -U.S. Treasury 2-year and 10-year yields held to tight ranges, and consolidated recent drops ahead of U.S. CPI, weekly claims risks
U.S. dollar traded generally lower against most major with the exception of the Japanese yen
USD/JPY rallied away from the 10-DMA and struck a 5-session high, neared the 38-year high set on July 3
Yen selling drove EUR/JPY to record high above 175.00, AUD/JPY rallied above 109, hit a 34-year high
Fed Chair Powell’s testimony to the House Financial Services Committee was similar to his Senate testimony
Bank of England’s Pill said BOE moving closer to rate cuts, but inflation pressures still strong
Late in the session UDS/JPY +0.28%, EUR/UD +0.08%, GBP/USD +0.41%, AUD/USD +0.02%, USD/CAD -0.12%
S&P 500 & NASDAQ hit record highs; gold traded up +0.38% late in the session
For more click on FXBUZ
(Christopher Romano is a Reuters market analyst. The views expressed are his own)
(Edited by Terence Gabriel)
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