The usual suspects are it again

It has been a familiar theme in April trading and I don't see how that will let up before the FOMC meeting on 4 May.Higher bond yields continue to draw the market's attention, with 10-year Treasury yields inching closer towards 3%. It is up 4 bps to 2.957% at the moment with 2-year yields also up 4 bps to 2.735%.US stocks opened more positive yesterday but the optimism didn't last as sentiment cratered with tech stocks in particular being a drag. The Nasdaq close 2% down at its lowest since 16 March. The S&P 500 also closed down 1.5% after a rejection of its key daily moving averages near the 4,500 mark.In FX, the dollar continues to keep more resilient with the aussie and kiwi fading its early week gains. The latter two are still pressured today as risk sentiment is fairly cautious. S&P 500 futures are down another 0.4% currently.Meanwhile, USD/JPY is still seeing some push and pull after the retreat from 129.40 earlier this week. But buyers are still keeping near-term control, still gunning towards 130.00.The euro and pound are both finding it tough to sustain any upside against the dollar with the latter pinned back down to 1.0840 from 1.0940 yesterday while GBP/USD is still flirting with support at 1.3000.Expect more of the same today with little else for the market to really focus on.