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EUR/JPY rebound helps USD/JPY recover above 149.50
On Friday morning the BOJ boss, Ueda seemed to come to the rescue of the USD/JPY, when his reported comments helped to lift it from 149.28 to 150.73. Well, by the US close that rebound was more than unwound. The US PMI data saw to that and as those US yields tumbled with stocks, the USD/JPY crumbled again and later fell to a low at 148.92 ahead of the US close. It later closed in the US at 149.27. The low on December 3 last year was set at 148.60. Overnight the Nikkei 225 has not reopened due to the Japanese public holiday, but the Nikkei futures have rebounded and that has helped the USD/JPY rebound from an earlier low at 148.85. The dollar is very close to session highs right now (149.55) and clearly helped by a corresponding rebound in the EUR/JPY today. The clear lines of demarcation this day look to reside at 148.60 and 150.73. It is right now at 149.54
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