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USD/JPY surges above 156.50 after blow-out payrolls data

The USD/JPY of course wasted no time in reacting positively to the much better than forecast US payroll numbers. The dollar charged above 156.50 instantly on seeing this data. The high seen so far has been set at 156.88, That will probably not please the BOJ much either, but in truth it is a justifiable reaction to the US data. The surge in US yields is also a key driver behind the rise in the dollar and that further underpins the short Yen carry trade. The USD/JPY is close to session highs right now too, currently trading at 156.84
 

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