watchful wily wednesday, page-5

Hi Mongo
DXY looks solid - good buying in USDJPY at current levels and is greatly undervalued to TNX.
With rallying yields it makes borrowing and holding USD more expensive and yields usually rally this time of year. We will have Portugal trying to auction bonds before EZ market opens, this will be interesting. Could pose an impetus to Wall Street open.
Unfortunately we have all now become bond traders too - the complicated has become more complicated.
The AUD has local corporate support at 1.0050 & 1.000..sub .9980 and the AUD short term top will be in place and this could be a pre curser to the commodity space.