Rising tide in risk trades lifts USD/JPY to the best levels of the week

USD/JPY hits 108.75
USD/JPY has broken Wednesday’s high of 108.75 in a rally to the best levels since October 17.
The S&P 500 is a whisper away from an all-time high and Treasury yields are climbing. The 10-year is up 4 bps to 1.81%, which is also narrowly above the high of the week.