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USD/JPY slides back below 150.50 as US yields slip
Earlier this morning the USD/JPY was pushing to test its most recent, 2024 high, at 150.89 The dollar rose to a high at 150.77, but over the past couple of hours it has fallen back and just now hit a session low at 150.34. As far as headlines go, I cannot attach that move to anything, other than a relapse in US bond yields. The 2 year note rose to above 4.75% earlier this morning. It has now tracked back to 4.70% and that has helped the Yen to bounce. Naturally, gold has bounced for the same reason. The metal is now not far from, $2,030, where it was close to $2,o015 earlier. The USD/JPY is currently trading at 150.39
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