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USD/JPY lifts to fresh session highs ahead of the 4pm London fix

Such are the shifting gyrations in the US bond markets, that now those US yields have lifted once more and the 2 Year note is now 2-3 BP higher than at the time of my last update. So, this has lifted the dollar and particularly versus the Yen. The USD/JPY has just now risen to a session high at 150.26. This modest rise comes right into the 4pm London Fix, so there might be something at play for that event. That is not confirmed though and beyond any fixing orders, it looks like those US yields are the main driver anyway. Consequently, the EUR/USD is edging back down for the very same reason. The USD/JPY is still well inside the noted 149.50-150.50 range outlined here much earlier today. There is no reason yet to suggest it will break that ahead of the US FOMC minutes release this evening. The USD/JPY is currently trading at 150.24 

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