Dollar Rebound Against Yen Stalled at ¥154.50

The US dollar has rebounded against the Japanese yen as interest rates in the US have risen. The 10-year yield is now heading toward the 4.93% level, supporting the dollar's recovery. The ¥153 level provided support for the dollar, and it is now challenging the ¥154.50 level.

The PPI number was released as expected during trading hours, which may indicate that traders will pay close attention to CPI data and its potential impact on the Federal Reserve's decision to raise rates on Wednesday.

Additionally, the Bank of Japan will be a key factor in determining the future direction of the dollar-yen pair. The recent increase in US yields has caused the dollar to rebound against other currencies as well, including the Chinese yuan and gold.