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USD/JPY presses above 151.35 as US yields rise

The upshot of the poor US treasury note auction and the comments from Jerome Powell has sent US yields jumping higher again, as just noted in the previous update. This has supported the dollar and sent the USD/JPY rising above 151.35 this morning after reaching that level for the close last night. The rise in the dollar has not yet evoked any comments from BOJ officials, but of course that is still something to be aware of. The dollar is now closer to the highs seen on October 31, when it topped out at 151.72. The 2022 high at 151.95 has of course remained intact. The range seen so far today has been covered by 151.22 to 151.41. The dollar is just now trading at 151.38
 

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