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USD edging higher into USD data as US yields gain

The US treasury yields are a little higher right now today. The 2 Year note is back above 4.60% and the 10 Year note is above 4.27%. Hence both are around 4bp higher on the day and that has been enough to help the USD/JPY grind back towards its best levels of the day. The USD/JPY peaked at 150.37 earlier today and it is right now trading at 150.34, after failing to push back below 150 a little earlier this morning. So, this move back towards the highs of the day comes ahead of the US PPI data, due out in around 10 minutes. That PPI data will need to be higher though, if this push in the dollar it to continue, or even extend. If it is not, then we could see similar price action to that of yesterday afternoon. It is all up to the data really, as where we head to into the weekly close. Leaving aside the US side of the equation, the comments earlier today from the BOJ governor, Ueda would suggest there is still distinct reluctance on their part to shift monetary policy any time soon 
 

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