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Nikkei 225 futures rebound-USD/JPY follows
Following earlier updates here noting the rebound in the Chinese stock markets today, the gains in mainland China were actually extremely impressive, despite the lower PMI data released earlier this morning. The main Chinese bourses notched up gains of more than 8% today and that has eventually helped the Nikkei futures to rebound further just now. That rebound has helped to lift the USD/JPY, after it fell back to 141.65 as the European markets reopened. The dollar has now pushed up towards 142.50. Despite the rebound in the Nikkei, the European markets are still in the red, once again dragged lower by the automotive and luxury sectors this morning. The rebound in the USD/JPY has now helped the the GBP/JPY and EUR/JPY to rebound off their earlier lows too. The USD/JPY is currently trading at 142.45
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