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Dollar extends gains-USD/JPY rises close to 148.50

Since my last update here, following the Fed monetary policy decision, the dollar has risen further. That is because US treasury yields have also lifted. The 2 Year note yield is now close to 5.20% and that has pushed the USD/JPY even higher. The USD/JPY was already elevated into the US close last night, where it ended the session there at 148.34. It has risen to as high as 148.46 so far today. However, at the same time, there is trepidation because of fear the BOJ will not be pleased by this new 2023 high. The low seen earlier today has been set at 148.19. It is just now trading at 148.38

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