• A sense the Fed would raise its key interest rate later rather than sooner worked in the yen's favor, which moved below ¥120 against the greenback. 
  
  
• The yield on the U.S. 10-year note has swung from comfortably above 2 percent to now comfortably below that level which has tarnished the greenback's short term prospects and encouraged the Japanese investor to keep money at home.
• The yen should take some fundamental drivers from late week reports on Japanese inflation, unemployment and retail sales. What the outcomes suggest about the outlook for Japanese monetary policy will be of critical importance for the yen.