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USD/JPY reclaims 157 again

The rise in the dollar on Friday that came after the surprisingly strong US payroll report has not looked back, as covered here in a number of updates already this morning. So, unsurprisingly the USD/JPY has been on the front foot ever since. The dollar did trade above 157 on Friday afternoon, but was unable to post a weekly close above that level, when it ended the day at 156.75. However, the USD/JPY has lifted above 157 today and reached a high so far at 157.20. Naturally, there is a good deal of trepidation over the risk of the BOJ stamping on dollar gains, but so far today there has been no sign of that in the price action. To be honest though, although the BOJ will not necessarily like the move, it is entirely in line with the latest US data and move higher in yields. Look, if they really want to halt the dollar they could always do something about their own monetary policy. The USD/JPY is currently trading at 157.05
 

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