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USD/JPY holds 151 and rebounds to reclaim 152 as US yields rise
Much earlier this morning the USD/JPY fell further below the noted breakdown level mentioned here yesterday, at 151.48. The dollar dropped back to 151.24 following comments from the Ministry of Finance regarding a positive outlook for the Japanese economy. The USD/JPY had set a synthetic US close last night, at 151.51. However, the move lower did not last and that has come as the US bond futures are trading again and US yields have risen so far today. That has seen the 10 year note move back above 4.50%. That in turn helped the dollar rebound across the board and the Yen has now handed back its earlier gains and more. The USD/JPY rebounded to 152.22 a little earlier this morning. It is just receding a bit now though. The USD/JPY is currently trading at 151.97
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