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USD/JPY gets a helping hand from Nikkei 225 record

Perhaps surprisingly, the USD/JPY managed to hold above the 150 handle into the weekly close on Friday. That is because, at the same time US treasury yields were falling back sharply and undermining the short Yen carry trade. Earlier in the day ahead of the ISM index, the dollar had topped out at 150.72, which was pretty close to its 2024 high (150.89). The USD/JPY ended the week at 150.12. Overnight the USD/JPY did fall to below 150, but it has rebounded again since, from a session low at 149.84. The main reason for that has been the record rise in the Nikkei 225 this morning. Those US treasury yields are slightly higher too and that has also helped the dollar to push to a session high a moment ago, at 150.39 

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