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USD/JPY falls back to below 157
Since the last update here on the USD/JPY, the Yen has strengthened. The dollar peaked earlier at 157.86, but is has just now taken a hit and fallen to below the 157 handle. There is no particular news based catalyst for the move and it could be that a drop back below the closing level last night, at 157.37 tripped stops and delivered the further fall. The further falls across the European equity markets opening deeper in the red might have produced some risk aversion to favour the Yen too. The USD/JPY is just now coming off that earlier low around 156.95, currently trading at 157.15
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