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USD/JPY recovers back above 158 as US yields edge higher
An earlier update here today noted the market reaction to an unconfirmed report across a major News wire reporting the potential for the Bank of Japan to raise interest rates at the end of the month. That update did warn about the validity of this report, as it was not confirmed by any official sources. Well, following this the USD/JPY did fall and it dropped to a session low 157.63. However, gradually the dollar has been on the rebound again and just now lifted back above that 158 handle, as US yields edge higher again and now the 10 year yield is back above 4.70% and that has helped to lift the dollar to a rebound high just now, at 158.12. Of course the US jobs report is very much front and centre in terms of any further price action in the USD/JPY this afternoon. An update on what is expected in that report will follow ahead of the release. The USD/JPY is right now at 158.10
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