USD Holds Steady as Bond Yields Rise, Equities Remain Cautious

Market Reaction to US Data

The dollar is holding firm after reacting to recent US data, bolstered by rising bond yields.

Bond Yields Up, Equities Limit Momentum

Higher yields contributed to the greenback's strength, while equities showed cautious movement amidst the market shifts.

• 10-year Treasury yields rose by nearly 10 bps to 4.30%.
• US futures cautiously started the day, reflecting broader market sentiment.

Focus on Japanese Yen and Antipodean Currencies

Traders closely monitor yen movements and antipodean currencies, with AUD/USD and NZD/USD facing challenges near key support levels.

1. USD/JPY remains above 148.00 as yen bulls lack conviction.
2. AUD/USD tests support at 0.6559, while NZD/USD dips to 0.6100 near critical levels.

European trading awaits key economic data and further bond market developments to guide market sentiment into the weekend.