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Dollar jumps into and after the 4pm London Fix-check out the USD/JPY

The dollar is not looking back now this afternoon and the lead in that respect has once again come from the USD/JPY. That has just now hit a session high above 157.40. So, having stalled short of 157 earlier, it is now on the march once more. The move higher comes amid fresh downside in the the EUR/USD and GBP/USD. Both have just now hit fresh session lows. The fact that the US currency is strengthening at the same time as stock markets advance further seems unconnected. That is because the US treasury yields have not advanced. The upshot of this is that it is all due to the USD/JPY and not anything else in terms of that dollar rebound versus the European currencies. The USD/JPY is getting a bit overcooked in the 14 day RSI now though. That is right now close to 87 and that is something to bear in mind. The USD/JPY is currently trading at 157.40

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