USD/JPY is drifiting lower, presently at 93.10. US treasury yields have come lower today and this is weighing on the pairing somewhat. 10-year presently yields 3.7433 having closed out Tuesday up around 3.7955, while 30-year is at 4.6149 from 4.6705. As has been mentioned many times before there is a close corellation between USD/JPY and US yields.
Also US stocks are giving a little ground as risk aversion picks up just a smidge and this is also helping lift the yen.
