ForexLive American wrap: USD/JPY climbs toward 94.00

Treasury's Brainard: US supports Japanese efforts to beat deflation ECB's Weidmann: Euro not seriously overvalued Fed's Yellen says higher rates not assured after thresholds crossed Australia Fin Min: No need to depress euro Italy Fin Min: FX rates should be market determined G30 calls for long-term investing EU banks may have to meet basel liquidity target before rivals S&P revises Ireland to stable from negative at BBB+ New Zealand home prices +7.1% y/y Syrian car bomb detonates in Turkey Gold down $17 to one-month low $1650 Two first two headlines of our wrap account for the market moves today. Weidmann sent the euro to 1.3428 from 1.3380. It wasn't a revelation and that's why EUR/USD stagnated and then slipped back below 1.3400. The Brainard comment came late in the day and the market was slow to grasp the meaning (but we weren't). USD/JPY and the yen crosses have been marching steadily higher and tripping some buy stops. Offers ahead of 94.00 are holding so far. The risk trade wasn't a driver today as the S&P 500 traded in a 5 point range around unchanged. USD/CAD hit 1.0084 but overbought conditions led to a steady slide back to 1.0043. The comments from Yellen  suggested no change in the QE status quo for the foreseeable future but Yellen is noted dove and the market hardly moved except for a $5 blip in gold.