US stock markets continue to levitate on Amazon headlines. USD/JPY shrugs

Not much reaction from the FX market

There is a low-volume rally underway in stocks. It’s the final trading day of the month and the S&P 500 is at the best levels of the day, up a solid 34 points to 2639.

That will help to blunt a tough quarter in the stock market but FX traders (nor bonds) are particularly excited. USD/JPY has ticked up about 12 pips in the past hour as the gains have accelerated.

What’s driving the climb in stocks at the moment is Amazon after the White House said it’s not considering action against the company at this point.