Yen Leads Charge Against The Dollar Amid Falling Rates

News Snapshot:

Avalon_Studio Overview The Japanese yen is leading the charge against the dollar today. Short covering in the Japanese bond market, the decline in US rates, and some reports of real money saw the dollar tumble to around JPY149.25 to approach the low for the month near JPY149.20. All the G10 currencies are firmer today, as are all but a few emerging market currencies. The Dollar Index (USDOLLAR,DXY) finished October near 106.55 and it has been finding support near 104.00 in recent days. A break targets the 103.00-50. Benchmark 10-year yields are lower. In Europe, yields are mostly 7-8 bp lower....