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No rebound yet for USD/JPY in Asian trading

Yesterday the rebound back above 151 in the USD/JPY could not make it back above 151.50 and as the US yields fell back again, that caused the dollar to drop back below 151 and towards 150.25 into the 4pm London fix. The fall in the dollar here also pushed the major Yen crosses lower and delivered a corrective move of note in the EUR/JPY and the GBP/JPY. The USD/JPY did rebound from that low and later closed in the US at 150.73. However, it has not made any further progress so far today, dropping back from a session high at 150.78. The low seen so far today has been set at 150.42. Meantime, US yields have not bounced and that is keeping the topside in check ahead of the European opening this morning. The USD/JPY is currently trading at 150.59

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