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USD/JPY holds 145 in Asian trading

The price action in the USD/JPY following the release of the November US CPI report  yesterday was confused and volatile to say the least. In the event the dollar recovered its poise and held above 145 into the US close, where it later ended that session at 145.45. Much earlier today, right at the start of the Asian session, the dollar did drop back, but it held the 145 handle this time (145.17 the low) and has rebounded to a session high of 145.70 since. Those US treasury yields are pretty steady so far this morning, with the 2 Year note at around 4.73%. Of course the big game in town today is the Fed monetary policy decision this evening at 7pm GMT. Quick News will be on hand to offer coverage on that. Meantime, it is likely to be a choppy session again today at times and one where liquidity dearths might give rise to periods of volatility like we saw yesterday. The USD/JPY is currently trading at 145.55
 

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