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USD/JPY extends gains above 148 as US yields lift

The US treasury yields are now a little higher and as we know, it does not take much of a move these days for that to have an impact on other markets. Most usually that means the USD/JPY has moved and that is what it has done now, by rising to session highs around 148.20. That has pushed higher by around 25 pips now from earlier levels just below 148. The move higher in US yields seems to also be having a negative impact on the Dow Jones futures, leaving aside any other reason for the further falls now this afternoon. The USD/JPY is currently trading at 148.19
 

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