USD/JPY flows: Just below 160

The brief dip below 159 on Monday for the USD/JPY did not last. Equities have bounced a little while U.S. Treasury Yields remain depressed. 10yr JGB yields are just sitting below 1% as we hear another round of verbal intervention from Hayashi, Japan's Chief Cabinet Secretary. We also have the latest Japan service PPI which came in slightly lower than previous month.

USD/JPY is trading 0.09% lower at 159.45.