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USD/JPY rises above 158 again
Earlier today the USD/JPY traded briefly above the 158 handle, but then stepped back as low as 157.66 noisy long after the European opening. For most of the morning after that it had been edging higher and not so long ago it rose above that Asian high and the price action has since accelerated on the topside.
The driver for this is not clear, but it could easily rest with the prospect of a Fed rate increase this evening. That is not a done deal of course, but perhaps someone out there seems to think it is. The USD/JPY is trading right now at 158.19
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