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USD/JPY rebound thwarted by Nikkei 225
The USD/JPY continued to rebound yesterday afternoon and that saw the dollar lift from a new 2024 low at 139.58. The recovery extended into and after the 4pm London fix and the dollar later closed in the US at 140.62. Earlier this morning that rebound extended to a high at 141.23. However, as the Japanese stock market has fallen back to below 36k today that has undermined the dollar recovery and sent the US currency back from that high, to a low at 140.32. It has managed to lift from that low, but right now the dollar is turning back down again and remains under pressure, unless the Nikkei 225 can recover into the close. The USD/JPY is currently trading at 140.57
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