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USD/JPY, Copper, and DAX and Forecasts – BoJ Intervention & Inflation Risks Drive Volatility

By
Christopher Lewis
Published: Jul 31, 2026, 12:50 GMT+00:00

The US 10-year yield is rising again, as we are looking at a potential influence on the markets.

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US 10-Year Yield Technical Analysis

The US 10-year yield rises to 4.68%, back near 4.70% above its EMAs. Source: TradingView

The US 10-year yield initially pulled back a bit during the trading session, but we’ve seen yields rise since then, which quite frankly, is not a huge surprise considering that there is so much going on in the world that could cause inflation, not the least of which would be the situation in the Strait of Hormuz. With this being the case, it makes sense that we might see a little bit of influence in some of the other markets, and with this, I believe we may have a little bit of action in the US dollar if it keeps up.