Bullish stocks
I noted the divergence between stocks on and USD/JPY earlier but stock markets have won this round as the S&P 500 remains bid.
USD/JPY has now climbed to the highs of the day at 102.83. That beats yesterday's high by a pip. Along with the series of higher lows, it points to more consolidation. Even the bond market is cooperating as US 30-year yields push higher after a dip to a one-year low earlier on reported Japanese bids.
