Morning JGB trade sees the yield on the 10-year rise to 0.655%

<p>The soft tweak to monetary policy at its previous meeting saw the bank allow the 10 year to rise above its previous 0.5% cap. The new line in the sand is 1%. </p><p>We are not close to that. Yet. </p><p>USD/JPY is not far from its recent high, no jawboning from Japan as yet either. What to listen for:</p><ul><li><a href="https://www.forexlive.com/centralbank/jpy-alert-the-clear-signals-to-watch-for-imminent-bank-of-japan-fx-yen-intervention-20230701/" target="_blank" rel="follow" data-article-link="true">JPY alert: The clear signals to watch for imminent Bank of Japan FX yen intervention</a></li></ul><p>Masato Kanda is the guy at Japan's Ministry of Finance who will instruct the Bank of Japan to intervene in the yen, if it comes to that. </p>

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