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USD/JPY rebounds after Kishida says he will step down
Much earlier this morning the USD/JPY fell back towards 146. The dollar had closed in the US last night at 146.84 and the move lower came as the US currency faced further pressure at the start of the Asian session today. The low seen was set at 146.08. The initial reason for the fall from the Asian high at 147.19 was all due to breaking news concerning the Japanese Prime Minister, Kishida. He announced he will not stand for re-election next month and that initially sent the Yen surging. However, since then the dollar has managed to rebound back above the 147 handle. In truth, as far as this analyst is concerned, the implications of the Kishida announcement is rather unclear at this stage. The USD/JPY is currently trading at 147.00
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