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USD/JPY stumbles lower in quick drop before slight bounce back
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The dollar did see early gains ease up a little as we got into European trading and that saw USD/JPY pare its advance from 163.70 to around 163.30-40 levels.
But in the last 10-15 minutes, there is a quick drop now in the currency pair with it falling by 100 pips to 162.28 before a light bounce again.
I wouldn't pin this as intervention but perhaps there are some stops triggered and some jitters in the break below the recent lows around 163.30.
Meanwhile, AUD/USD is pushing back up by 0.3% to 0.6975 from around 0.6950 earlier in the session.
10-year Treasury yields remain underpinned near 4.70% and 30-year yields are pushing to 5.23% today.