Japan's 10-year government bond yield has reached a three-week high,

<p>Japan's 10-year government bond
yield has leapt to a three-week high at 0.8%</p><ul><li>10 year JGB yield up 5
basis points from the previous session</li><li>highest since November 16</li></ul><p>Yesterday I posted on investors demanding higher yields from Japanese fixed interest as they face the risk of higher rates:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-asia-pacific-fx-news-wrap-ueda-talks-about-exit-yen-rallies-20231207/" target="_blank" rel="follow"> auction of 30 year bonds showed the ‘tail’ as the longest on record</a></li></ul><p>The bid to cover on this was the worst in 8 years if memory serves. </p><p>While everyone was screeching about Ueda's comments (which were very non-commital IMO) I haven't seen anyone mention this as a factor in the yen buying cascade. Weird. </p><p>USD/JPY update:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.