Risk trade improve
USD/JPY is back to unchanged on the day at 108.17 after falling as low as 107.77.
The rebound coincides with a bounce in stock markets. The S&P 500 is down just 5 points to 2580 after falling as low as 2562.
If USD/JPY can get above 108.26 it could start to trip some stops. Keep an eye on the bond auction later. The yield at yesterday's sale was lower than anticipated and the same thing today could hurt the pair.
