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USD/JPY edges higher as US yields hit session highs

Well, no sooner than the ink was dry on the previous update regarding the outlook for the US opening this afternoon, that outlook turned lower again. In fact the Dow Jones futures have since dropped to a fresh session low and so did the S+P 500 and the Nasdaq 100 futures a moment ago too. The reason for the sudden shift it not exactly clear, but looks to have stemmed from a slight relapse here in Europe. However, it must be stressed, that trading across all these markets is chopping and changing by the minute right now. The dollar is making up some lost ground too and that dynamic seems to be weighing on stocks as US yields rise again. The 2 year note is now at session highs above 4.78% and the 10 Year note is nudging 4.45%. This further rise in yields is also pushing the USD/JPY closer to the 152 handle again, as the markets once again test the resolve of the BOJ, to put their money exactly where all their collective mouths are right now. The USD/JPY is currently trading at 151.89 

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