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USD/JPY dips below 158 again
A little earlier this morning the USD/JPY dropped back below 158 again. The dollar fell sharply from around 158.25 to a low at 157.71. The USD/JPY had closed in the US last night at 158.35. There is no immediate reason for the slide this morning and certainly no indication it was the BOJ. It that had been the case, then the dollar would surely have fallen further and faster than it did. That said, the threat of further BOJ action remains a significant headwind for the dollar right now after they stepped in last Thursday. The USD/JPY is currently rebounding off the lows, trading just now at 158.02
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