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USD/JPY extends rebound ahead of US stock market opening
Since the last update here noted the rebound from 144.10 in the USD/JPY, the Japanese currency has weakened further and it has since lifted back above the original breakdown level, at 144.67. The dollar has now pushed on and reached 144.95. That in turn is adding pressure onto the EUR/USD and the GBP/USD. Both have fallen back as this USD/JPY rebound extends. The US stock markets will shortly reopen and it is looking like it will be a slightly negative opening for the Nasdaq 100 and S+P 500 indexes. The Dow Jones is being slightly better supported following the results from Home Depot earlier this morning. Despite a slight miss on EPS, the bottom line was marginally better and the company has maintained its year end guidance. The USD/JPY is right now trading at 144.94
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