USD/JPY lifts back above 149.25 and here is why

In recent trading the USD/JPY has managed to lift from its earlier European session low around 148.70. That rebound has extended to just above 149.25 a short while ago. It comes as the European stock markets attempt to steady, albeit at lower levels. Perhaps that is not enough to explain the rebound in the dollar, but it could have roots elsewhere. That might include some last minute demand for the US currency ahead of the month-end tonight. That is not certain though and not exactly clear either. The push higher in the USD/JPY came leading into the 9am GMT fix and as such we have to see, if it is per perpetuated, or not. More usually any final month-end orders would tend to show up at 4pm in London, but increasingly these days, it seems larger players are avoiding that one, because it all seems just too obvious. The USD/JPY is just now backing off that high and so we conclude; that it was a month-end fix, set for 9am. The USD/JPY is right now at 149.13, as that earlier rebound in the DAX now seems to stall