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USD/JPY lifts from below 151.00

The rush to safe haven currencies late yesterday evening helped the Yen to gain. So, the USD/JPY fell back from an earlier high at 151.77, towards the 151.00 handle. The dollar closed in the US at 151.34. Earlier today that risk aversion delivered a fall to below 151.00. The low seen was set at 150.81, but it has rebounded off that low now. However, what is clear right now; is that 152 remains a bridge too far at the moment and the failure to take that on again this week has played a role in the recent falls anyway. The dollar acting as a safe haven right now too is leading to a degree of competition between the two currencies, as which will attract the most haven flows. Earlier today it seemed like it was the Yen, but right now the dollar has grabbed back some shares in that. The US jobs report is very much in focus today in that regard and later updates will go into more detail on that this morning. Meantime the USD/JPY is currently trading at 151.28 
 

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