The yen is the strongest of the major currencies. It has gained about 0.65% against the dollar. It has been grinding lower throughout the Asian and European session and has remained in narrow ranges near its highs in the US morning.
Japan still seems isolated in terms of it desire to intervene. Ahead of the G7 heads of state summit this coming, the risk of intervention remains slight. Asian and European shares were lower, which favors the yen. US yields are flat, while the US 10-year premium has narrowed a couple of basis points.