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USD/JPY edging higher as US yields rise again
As this update is being typed US yields are right now pushing to session highs. The 10 year yield is now above 4.64% and the is helping to lift the USD/JPY from its earlier European session low, around 157.40. The dollar has just now pushed back above 157.75 and if those US yields keep advancing then it might yet gain more traction. Those higher yields are also for the time being preventing any further progress in the GBP/USD and the EUR/USD, but it looks like the USD/JPY is taking the lead in that regard. Of course the USD/JPY will be very much front and centre to any market reaction to the US data releases this afternoon. The USD/JPY is right now at 157.72
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