This time the USD/JPY does set a daily close above 152

The push higher in US yields came later yesterday afternoon and it helped to steady the dollar after it had slipped following the release of the November CPI report. That saw 10 year US yields rebound from 4.20%, to above 4.27% by the close. This in turn ensured the USD/JPY closed above its 200 day moving average this time (now at 152.04). Earlier in the day the dollar had dipped below that 152 handle after the CPI data hit the screens. The USD/JPY later rebounded just above 152.70, before closing at 152.45. The price action so far today has seen it rebound again after another drop below 152. The range seen so far has been covered by 151.96 to 152.77. The recovery to that high was again delivered by further headlines surrounding the outlook for BOJ monetary policy next week. That was once again on the back of another report from Reuters inferring the Japanese Central Bank will not raise interest rates next week. Meantime, US yields remains near the highs seen yesterday and that is also supporting the dollar leading into the European opening. The USD/JPY is currently trading at 152.49