USD/JPY rebounds on Monday after coming under selling pressure earlier in the day, as the Japanese Yen (JPY) struggles to gain traction despite a weaker US Dollar (USD). At the time of writing, the pair trades around 159.25, recovering from an intraday low of 158.85.
The Yen struggles despite the recent joint intervention by Japan and the United States and a rise in Japanese government bond yields to multi-decade highs. The intervention briefly pushed USD/JPY toward 155.00, but the pair has since recovered most of that decline.
Japanese yields are climbing as a weaker Yen and elevated energy prices worsen the inflation outlook. Yen…
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