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USD/JPY edges back towards 160 again
The rebound in the USD/JPY, from the low at 158.75 seen on Monday later delivered a US close at 159.70. Earlier today the dollar edged up to a high at 159.90. That move came even as US yields slipped slightly. Generally speaking it has been a pretty quiet Asian session today with a dearth of any meaningful fresh news and that has helped the Yen to weaken slightly, as the major carry trade trend seeks to continue. Of course the risks of the BOJ stamping on the price at levels close to the 160 handle have not gone away by any means and that explains the trepidation in regards to pushing the dollar above that level. The low seen earlier today was set at 159.62. The dollar is just now trading at 159.78
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