USD/JPY edging lower now

The USD/JPY is just now edging back towards session lows (160.65), as the dollar more generally remains firm versus the European currencies. Now, some days ago an update here noted how many of the month-end models were expecting dollar outflow at some point ahead of the weekend, but so far that has not materialised in any meaningful way. That is not to say it will not, but those model forecasts are quite often wrong too. The most likely time for such dollar outflow could be the 1.15pm European fix, or perhaps the 4pm (3pm GMT) London fix. That said, any final window- dressing month-end orders can show up at the top of any hour today. It will be interesting to see what does actually unfold and of course that US PCE data due later (12.30pm GMT), could add to that prospect, or detract from it. The USD/JPY is just now trading at 160.78