Forex today was seeing a turnaround in the greenback after Tokyo’s flurry into the yen on the back of speculation that the BoJ was about to tweak its monetary policy at next week’s meeting. In fact, global bond yields on a whole rose on Monday while investors get set for what is expected to be a strong US GDP this Friday and the dollar was playing catch up, rising from the day’s lows at 94.2070 and to a high of 94.7160. US 10yr treasury yields climbed from 2.88% to 2.96%, another high since mid-June’s levels while the 2yr yields popped from 2.58% to 2.63% – this was the highest level since 2008. Traders continue to anticipate that the Fed will have hiked four times before the year is out and the Fed fund futures yields are now pricing almost two more full hikes in 2018. Currency action The Yen was unable to sustain its power in Tokyo yesterday and USD/JPY was picked up on the cheap from 110.75 where traders took the pair back to a more respectable and key the Tenkan technical level around 111.50. Markets are now back to thinking that the policy tweak noise amounts to nothing, or at least, is setting markets up for a tweak to policy sometime in the future, but the not-so-near future which leaves the uptrend from March intact while markets get set for this week’s US GDP and interim data such as today’s PMIs. The single currency dropped back from the wide Ichimoku cloud resistance zone that spans the 1.1726 to 1.1962 area on the charts. EUR fell from 1.1740 to 1.1684 ahead of Eurozone PMIs as multiple failures to stay above the 55-D SMA sucks in the supply for a test of the 10-D SMA in a widening of the DE/US spread. GBP/USD was weak again after the UK polling showing that there is a growing opposition to PM May’s soft Brexit plan and cable ended the North American session at 1.3105, down 0.21% within the 1.3158-1.3082 range. As for the cross, EUR/GBP it ended higher by +0.01% at 0.8922 within Monday’s range of between 0.8938-11 while Brexit angst trumps elevated sentiment for a BoE hike at Aug 2 MPC meeting. Meanwhile, the high betas were a poor turn-out with a comeback in the greenback weighing, leaving little room for copper to perform. The Aussie is trading inverse to the Chiese currency and advances in USD/CNH hurt the Aussie that fell from 0.7434 in Tokyo yesterday down a low of 0.7371 in NY overnight. From there, the pair moved into a sideways drift between a narrow 0.7384/71 Noth American range – weighed also by a sharp rise in US yields – (NZD/USD followed and fell from 0.6820 to 0.6777). Key notes from US session: Wall Street closes mixed, Google reports higher-than-expected Q2 earnings after closing bell (No key events for Asian markets today). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CNY fix projection: 6.7928 – Nomura FX Street 5 years Forex today was seeing a turnaround in the greenback after Tokyo's flurry into the yen on the back of speculation that the BoJ was about to tweak its monetary policy at next week's meeting. In fact, global bond yields on a whole rose on Monday while investors get set for what is expected to be a strong US GDP this Friday and the dollar was playing catch up, rising from the day's lows at 94.2070 and to a high of 94.7160. US 10yr treasury yields climbed from 2.88% to 2.96%, another high since mid-June's levels while the 2yr yields… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.