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USD/JPY extends rebound back towards 156
The Dollar is making some further headway now versus the Yen. The USD/JPY is just now pushing back towards the 156 handle and that is in sharp contrast to the fall to a low at 154.85, subsequent to the BOJ rate hike, as comments from the BOJ boss earlier. It seems right now; the move was kind of priced in at 155, but at the same time, uncertainty over the timing of the next move from the BOJ is helping the dollar to recover. US treasury yields being higher this morning is also another factor, if we assume no rate cut from the Fed next week (on the basis of Powell ignoring Trump and his latest salvo on monetary policy). So, at the end of the day, the gap between US and Japanese yields is still a yawning one. The USD/JPY is right now at 155.93
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