• USD/JPY extends the upside to the vicinity of 131.00.
• US yields keep marching north across the curve.
• The CB Leading Index comes next in the US calendar.

The now better tone in the greenback helps USD/JPY advance to the area just below 131.00 the figure at the beginning of the week.

USD/JPY up on dollar, yields gains

USD/JPY trades with strong gains and adds to Friday’s decent advance in response to the change of direction in the buck and the continuation of the upside momentum in US yields across the curve.

In the Japanese money market, instead, JGB 10-year benchmark yields remain in the negative territory around the 0.40% region following the release of the BoJ Minutes of the January gathering.

On the latter, Board members emphasized that the recent announcement regarding a wider YCC band did not imply any plans to start normalizing the monetary stance.