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USD/JPY edges back above 149 as US yields rise

Following on from the previous update, noting the outcome of the latest US ISM index report, the dollar has rebounded. That was already noted and the EUR/USD has really rather underperformed and even the GBP/USD has come off the boil, after rising to as high as 1.2177 earlier this afternoon. The USD/JPY has managed to battle back above 149 and this all seems due to a rebound in the US treasury yields and the fact that perhaps this was all priced into the dollar beforehand. The move higher in the USD/JPY has also thwarted gold it seems, as the metal drops back below $1,820 once more. The USD/JPY move higher is by no means conclusive at this stage and not exactly convincing either. It is just now trading at 149.04
 

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