USD/JPY lifts to session highs

The USD/JPY has just now lifted to a fresh session high, as it approaches 157.70. At the same time time both the EUR/USD and GBP/USD has also lifted to session highs too. So, the upshot of that is; both the GBP/JPY and EUR/JPY has risen, unsurprisingly also to session highs a moment ago. That might seem rather strange, given that the European stock markets are not yet rebounding again, having peaked after the opening this morning. The Dow Jones futures are lower too and that endorses what was said earlier about that index not buying into the European rebound from the get go. Hence, it seems a little odd right now; that the Yen is weakening in relative terms. However, perhaps that is due to the fact that the risk aversion we saw impact the markets on Friday is not yet at the same levels today. That is not to say it will not become so, as the session further unfolds. We shall see on that, but the Dow Jones future is lower now. The USD/JPY is currently trading at 157.65