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USD/JPY sets a new 34 year closing high

Yesterday the Yen continued to edge lower versus the Dollar. That eventually led the USD/JPY to rise to a new 2024 high and its highest level since 1990. That was at 154.85 and that is also where the dollar closed in the US last night. So, far today it has not surpassed that high, but it has not backed off much either. The low seen so far has been set at 154.66. The slight drop back in US yields since this time yesterday has not had much impact so far it seems. The BOJ monetary policy meeting set for Friday morning is on the radar now and if the BOJ is really serious about changing the direction of the dollar they could act then. There will be more to add on that prospect, as this week unfolds. Just head of that decision there is also some important Japanese CPI inflation data. Meantime, 155 is the level that many pundits are talking about and so far this week that has not been put to the test. The USD/JPY is currently trading at 154.77
 

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