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USD/JPY drops back below 154

The USD/JPY has now fallen further and just set fresh European session lows underneath 154. That fall has allowed both the GBP/USD and EUR/USD to lift from their earlier lows, notwithstanding further downside on both the EUR/JPY and GBP/JPY. That is because the rebound in the EUR/USD and GBP/USD has not kept pace with the fall in the USD/JPY. The move lower in the USD/JPY comes alongside another rebound in US stocks, as shares in Apple continue to pare back losses and lead the Dow Jones ahead of the results from them this evening (8.30pm GMT). If those Q1 figures are way out of line and enough to force a significant reaction across the US equity futures, then an update here will follow. Meantime, the USD/JPY is just now trading at 153.85
 

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