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USD/JPY off the lows for the time being
Earlier today the USD/JPY fell below the 145 handle again. The USD/JPY was already falling back into the US close last night. Earlier in the day the dollar had lifted back above 148. It closed in the US last night at 146.27. The fall below 145 earlier today saw it drop to 144.58. It has lifted from that low now, but given the surrounding risk dynamic, that rebound might easily just be temporary. The fact that US yields are higher and by quite some margin suggests the dollar should be supported, but as you can see and as noted earlier on the EUR/USD, it is not. Much will depend on what further news breaks today, as to whether or not we see a deeper fall below 145, or another rebound unfold. Right now it would seem the odds favour the former and not the latter. The USD/JPY is currently trading at 145.33
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