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USD/JPY higher this morning as the Nikkei 225 gains and US yields steady

On Friday a leading Japanese MOF official managed to successfully to cap further gains in the USD/JPY. Comments from  Atsushi Mimura helped to send the dollar back down from a high at 157.93 and it did not recover for the rest of the day, reaching a session low, at 155.95 ahead of the US close. The USD/JPY later closed out the week at 156.31. However, that further fall on Friday was largely due to the fact that US yields dropped as the session unfolded, from around 4.54% to 4.48% in the 10 year note, thanks to the slight miss on the US PCE data. The price action today has seen the dollar rise from a session low at 156.14 to a high at 156.69. As just mentioned in the previous update, that modest dollar rebound today has been helped by gains in the Nikkei 225 this morning. The USD/JPY is close to that session high just now and the 10 year yield is around 4.52%, which has also helped. The USD/JPY is currently trading at 156.63
 

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