During the Asian session most regional currencies weakened. US 10-year Treasury
Yields briefly rose above 5% on Monday, settling at 4.960%. Deutsche Bank
analysts said the rise was driven by persistent inflation concerns, elevated oil
prices, large government borrowing needs and heavy corporate bond issuance
linked to AI investment. They said the 5% level carries psychological and
economic significance and that sustained yields above it would further tighten
financial conditions. LSEG data showed USD/JPY +0.3% at 154.82, USD/KRW +0.45%
at 1353.14 and AUD/USD -0.15% at 0.7126.