The US dollar is falling further, particularly against the yen. This could be function of the London fix but it could also reflect falling yields in the fixed income market. US 10-year yields are back at 3.62% after rising as high as 3.66%.
USD/JPY is now down 122 pips to 131.41, from a high of 132.84 yesterday. That puts it firmly into yesterday's early gap higher on the headlines about Kuroda being replaced with fellow dove Masayoshi Amamiya.
USDJPY 1 hour
In the equity market, there isn't much corroboration for the shift in the FX mood with stocks continuing to trade largely unchanged ahead of Powell.
