The US dollar is getting a broad bid at the moment but the biggest move is in USD/JPY, which has just broke the May high of 131.35. One of the catalysts today is the bond market. US 10-year yields began to march higher at the start of New York trade and are up 5.9 bps to 3.01%. It's the first trip above 3% since a brief foray in mid-May. The Bank of Japan is the final holdout on any kind of pivot away from ultra-loose monetary policy, though you wouldn't know it from an op-ed in today's WSJ by a pair of economics professors from Johns Hopkins. "We don’t have a global inflation problem. Inflations are always and ... (full story)