Over the past 5 years, the correlation between the USDJPY and 10y UST yields has been extremely tight (below.)
Over the past two years, the correlation between 10y UST yields >4.5% and broader market trouble has been extremely tight.
Over the past two years, broader market trouble has quickly been followed by significant increases in USD liquidity from the Fed, Treasury or both.
Over the past two years, the correlation between significant increases in USD liquidity from the Fed, Treasury or both and rises in gold, BTC, and broader market indices has been extremely tight.
listen to Luke Gromen's interesting take on currencies and Treasuries
