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USD/JPY extends gains as Nikkei 225 rebounds-USD/JPY backs off from above 147
The mainland Chinese markets are still closed for the Golden week holiday, but Japan is open and the Nikkei 225 has rebounded back above 38,750 today and that helped the Yen to weaken further. The USD/JPY has lifted above 147 earlier today. The high seen was set at 147.24. The dollar had closed yesterday at 146.47. The dollar has fallen back from that earlier session high now though. The low seen before this new rebound high was reached was set at 146.29. The move higher today comes even as US and European equity futures are all in the red this morning and so at the moment, it is the dollar that is winning out when it comes to any safe have currency trade. The USD/JPY is currently trading at 146.61
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