USD/JPY on the rebound again as USD/CNH reacts to crummy Chinese PMI data

Earlier today the latest Chinese PMI data was not great. That was mentioned in the first update here today. So, Chinese manufacturing PMI fell to 49.1 in January, from 50.1 in December. That news has weakened the overseas Chinese currency versus the dollar. The USD/CNH has lifted back above 7.27 today on the back of that data. This in turn has helped to lift the USD/JPY too. Earlier today the USD/JPY fell to 155.29, from a close on Friday at 156.00. It has since lifted back to a high a short while ago, at 156.25. Granted this rebound is not just about the USD/CNHm because the renewed talk of Trump tariffs is another reason for the rebound in the dollar, but this Chinese Yuan weakness is not to be ignored. The USD/JPY is currently trading at 156.10