I watch this EUR.USD – USD.JPY curve, on a weekly chart, just because… The trend is consistent usually, the Euro rises the Yen rises (I’ve inverted the USD.JPY to see the effect against the Euro), back and forth. I’ve yet to seriously trade this but still watch the curve, looking for something ‘abnormal’. This morning I notice a divergence. Here’s a few examples from early August of how the 2 pairs normally trend.
That spike in US Treasury yields?