USD/JPY is extending its gains in Asia morning trade.
Data overnight from the US sent yields higher again, the spread between the US and Japan has been, and continues to be, a driver of the higher USD/JPY.
- Here's why the beat on ISM Services PMI on Wednesday had such an outsized impact on mkts
- US August ISM services 54.5 vs 52.5 expected
Continued strong US data argues for a 'higher for longer' Federal Reserve.
Yesterday we got aggressive verbal intervention out of Japan:
That's been shrugged off.
