[MARKET UPDATE] USD/JPY has retraced around half of the move seen at 04:45BST, with the pair now back at 156.75 after falling as low as 155.67 earlier

The retreat in USD/JPY indicates a notable correction after earlier volatility, suggesting traders may be taking profits or reassessing positions. The move back to 156.75 could reflect a temporary stabilization or a broader market sentiment shift, impacting risk appetite and associated cross-asset flows. Watch for further developments that could signal whether this retracement is just a pause or the start of a more significant trend reversal.