Opened in early Europe at Y76.21 and Y100.13. Usual comments from Japan’s Finance Minister Azumi to take firm steps to combat any speculative moves in the JPY were ignored. The USD traded a Y76.14-26 range hemmed in by bids ahead of Y76.00 and exporter offers towards Y76.50. EUR/JPY tracked the EUR/USD through a Y99.93-100.23 range. In Europe USD/JPY traded an even tighter Y76.16-25 range as traders look ahead to the US Non-Farm Payroll data released at 1330GMT for the next move. EUR/JPY slipped on the open to Y100.00, before paring losses on model account demand and lifting to Y100.20. Middle-Eastern EUR/USD demand gave the cross an added boost to Y100.30, before easing on profit take sales to Y100.15. Dip buying nudged the rate higher and trade sideways, until a further bout of EUR strength pushed the pair to intraday highs Y100.51 and close the morning on a buoyant tone.
EasyForexNews Research Team