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USD/JPY continues to leak lower so far today
Since an earlier update here looking at the markets and remarking on the USD/JPY, the dollar has fallen back further and just now it dipped below 156.50. The further fall back comes as the Nikkei futures fall slightly. As earlier noted, the Japanese markets are not open today and will not reopen tomorrow either. The USD/JPY closed out 2024 at 157.24, but it has just fallen to a session low this morning, at 156.44. The most recent price action has seen the pair repeatedly stall just above 158 and that has not helped the price action since. There will be much more to add on that in the coming week, as the markets refocus on the prospect of a Japanese rate cut January 23. The USD/JPY is currently trading at 156.53
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