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USD/JPY and EUR/JPY rebound off lows
The US dollar is still under pressure as the US markets get underway and the US equity futures prices rise further. The USD/JPY is above its earlier session low, at 149.20, but not convincingly so, in terms of any significant rebound yet, but it is higher now all the same. At the same time, the EUR/JPY has also come off its earlier low too and that has been arrived by a corresponding push higher in the EUR/USD. The Euro has just now pressed to a fresh session high at 1.0877. Once again all these moves are intertwined and in that sense, the Yen cross rate is the driver for this. The price action across all three pairs is actually quite volatile this afternoon. The EUR/JPY traded down to 162.16 earlier this morning. It is now lifting back above 162.60
Market News
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