USD/JPY flows: Challenging pre-CPI high

As USD/JPY challenges pre-CPI high at 156.8, we begin to hear from Suzuki his resumption of verbal intervention. And as usual, verbal intervention has little impact towards FX rate unless it demonstrates a sense of urgency. The USD continues to trade broadly higher with soft U.S. Treasury Yields.

USD/JPY is trading 0.15% higher at 156.48 with 10yr JGB yields approaching one percent.