USD/JPY slips and rebounds as Nikkei 225 and US yields fall

The Nikkei 225 is leading the losses across the Asian stock markets today and that has seen the Japanese benchmark reject a rebound back above 40k and fall back towards 39k earlier. That fall helped to push the USD/JPY lower earlier this morning. The USD/JPY, which had reached a high yesterday at 158.55, closed in the US last night at 158.35. The impact of the drop in the Nikkei sent it down to a low at 157.76 earlier this morning, but it has been trying to recover since. The rebound high from that low has been set at 158.15. US yields are lower this morning and that has been another reason behind the earlier relapse in the dollar. The 10 year note touched 4.72% yesterday. It is right now at 4.66%. The USD/JPY is currently trading at 158.06