The pair is looking far from overjoyed after kissing 102.50 and slid back down to 102.13.
JGB’s have jumped on the bond wagon and also ticked up into the 0.90’s touching 0.912%
Seeing as this pair is usually the band leader with all things dollar related it’s a bit worrying that we haven’t seen a larger move or at least the ability to hold gains.
The JGB’s rise may be keeping the lid on USD/JPY as no doubt the eagle eyes at the BOJ will be watching.
We failed just shy of last weeks high at 102.59 and need a break above to set the stage for another test of 103.