USD/JPY reclaims 157

Yesterday, as covered here at the time, the USD/JPY fell to a low at 155.72. That low came after the US CPI came in around 0.1% lower across the board and consumer prices did not rise at all over the past month. That news sent the US 2 Year yield down to 4.67%, from an earlier high at 4.85%. This really undermined the Dollar across the board. The later Fed policy decision helped to reverse that fall, after the Fed kept its monetary policy on hold. Prior to that there had been some speculation; the Fed could make a move yesterday evening. Well, they did not and the fact that the Fed boss was not as dovish as he had been most recently also helped to push the USD/JPY back into the close, as US those US yields rebounded at the same time. The USD/JPY later closed in the US last night at 156.72. It has extended that rebound so far today, reclaiming the 157 handle a short while ago. There will be more to add on that as the day unfolds. The USD/JPY is currently trading at 157.03