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USD/JPY testing 156 right now
The price action in the USD/JPY this morning probably owes much to the gains seen in the Nikkei 225 today. That index put on 618 points today, closing at 39,646 and that has supported the dollar owing to the usual correlated dynamic between the two. As noted here earlier, the gains in the Nikkei are n sharp contrast to the losses seen across the Chinese markets today. The reason for that is a lack of rhetoric from Trump regarding potential trade tariffs on Japan. That has not gone unnoticed by the USD/JPY this morning, BUT we have to remember the BOJ policy decision is looming ever closer now (Friday) and that might stop the dollar from running away on the topside today. The USD/JPY just now traded to a session high at 156.02. It is currently trading at 155.98
Market News
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Gold rises above technical resistance to set a new record high this afternoon
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