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USD/JPY steps back below 150.50 as Yen yields lift

Following on from an earlier update this morning, noting the higher than forecast Japanese CPI data, the Yen has understandably gained this morning. The USD/JPY rose to a high yesterday at 150.84. It closed in the US last night at 150.70. That higher than forecast CPI data has helped to push the dollar lower, but in real terms not by that much. The low seen was set at 150.41 and perhaps the main reason for that was because, despite beating forecasts, that CPI data was lower than recorded in December. However, it remains to be seen, if the USD/JPY can regain the modest momentum it had yesterday. Right now, that seems a little doubtful. The USD/JPY is currently trading at 150.47

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