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Nikkei 225 recovery above 36k helps USD/JPY rebound again
Yesterday afternoon the USD/JPY pushed above 148 and reached highs around 148.20 just ahead of the 4pm London FX fix. However, the noted reports from Fox news concerning Iran helped to push the dollar back towards the 147 handle and the USD/JPY later closed in the US at 147.21. Earlier today the dollar dropped to a session low at 146.92, but since then it has rebounded back close to the 148 handle again. The main driver for that has been a lack of fresh news out of the Middle East coupled with a further rebound in the Nikkei 225. The Japanese equity benchmark was closed yesterday, but reopened higher today, at 35,490. It had closed on Friday at 35,025. The Nikkei piled on more than 1200 points today and closed 3.46% higher, at 36,232. That further rebound gain has helped to underpin the USD/JPY today. The dollar is currently trading at 147.85
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