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USD/JPY rebounds from test of 148 in Asian trading

Yesterday evening, the release of the latest US Fed meeting minutes did not initially dent the USD/JPY. Those minutes were pretty much as expected and offered little new in terms of determining what the Fed might do next. No matter for the USD/JPY because it was largely unfazed by it all. I did note here at the time; that the USD/JPY might struggle above 148.50. Well it did climb a little higher, but the rally stalled at 148.60. It then drifted back down into the US close, ending the session at 148.39. However, that close was still some way above the earlier session low, at 147.15. Earlier today the dollar dropped back to test the 148 handle, with 148.02 the low. However, it has rebounded again and just now lifted above the highs seen yesterday evening. The USD/JPY is currently on session highs, at 148.80
 

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