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Close but not quite as 150 caps the USD/JPY rebound

Late yesterday evening the USD/JPY got to within a whisker of reaching thew 150 handle. The high seen ahead of the US close was set at 149.97. The dollar later ended the US session at 149.76. It has fallen back so far today, hitting a session low earlier at 149.44. The relapse has in part stemmed from fresh selling in the EUR/JPY, which has also come from a fall below the 1.09 handle in the EUR/USD again this morning. US yields are a little lower this morning too. The fall back in the USD/JPY this morning comes even as the Nikkei 225 reclaims the 40k handle today. Hence, we have a slight departure currently playing out in the more usual Yen/Nikkei correlation. The USD/JPY is just now trading at 149.51
 

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