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The Japanese Yen underperformed as US banking sector volatility cooled. Traders started pricing out aggressive Fed rate cut bets for later this year and Treasury yields rallied.

Daniel dubrovskySilicone valley bankJapanese yenBanking sectorTreasury yieldsAsia pacific market openPacific market briefingMarkets calm afterSilicone valleyWall streetNasdaq compositeSimple moving averageGolden crossSenior strategist