FXstreet.com (Córdoba) - The Dollar pulled down against the Yen after rising to 91.87, reaching a fresh 8-week high. USD/JPY found support at 91.60 and has been steady in the last hours moving around 91.70 which is 0.60% above today's opening price. Since the beginning of December the pair has risen 550 pips.
James Hyerczyk, from ForexHound.com comments: Rising Treasury yields continue to boost the Dollar against the March Japanese Yen. Optimism over an economic recovery in the U.S. is leading traders to sell the Japanese Yen. The recent rise in Treasury Bond and Note yields have become attractive to Japanese investors who have to sell the Yen to buy Dollars.
Against European currencies the Yen is slightly down on Tuesday. GBP/JPY trades at 146.50, 0.25% above today's opening price. EUR/JPY is consolidating on top of 130.00 but it was rejected from levels above 131.00. Currently trades at 130.85/90, an increase of 65 pips from the price it had at the beginning of the day.