In early October, it looked like 4% would be the ceiling but a hot CPI report and hawkish Fed talk has busted the top. We've now moved up a quarter point in three days.
Obviously this is a tailwind for the US dollar, but where does it stop?
In turn, USD/JPY is now up 17 pips on the day to 150.13 in what will be the 13th consecutive day of gains.