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USD/JPY drops back towards 147 as US yields slip

The USD/JPY has failed to hold a rebound above 148 seen yesterday. The high set then was at 148.34 and it came ahead of the European opening yesterday. However, that was not sustained into the US close, when the dollar ended that session at 147.50. The lack of traction was delivered by a drop back in US treasury yields yesterday and again today. That has helped to push the USD/JPY down to a low earlier this morning at 147.20. It is a little above that low now, but it is yet to reclaim levels much above where the pair closed last night. The high seen so far today has been set at 147.53. The USD/JPY is currently trading at 147.35

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