USD/JPY has hit its highest in nearly 3 months

USD/JPY rose overnight. The USD rose against all majors overnight.

ICYMI:

• Forexlive Americas FX news wrap 7 Mar: Powell leans toward an acceleration toward 50 bps

Expectations of more hikes ahead, for longer, are accelerating:

• BlackRock says Federal Reserve could hike rates to 6%, hold for an extended time there

As for the yield curve inversion ... 40 years!!!

• US yield curve inversion, the recession indicator, is its deepest in 40+ years

Yen slammed: