An early dollar rally across several pairs allowed USD/JPY to lift to Y81.74 around the ECB fixing, marking a marginal new high for the day, while euro weakness outpaced, sending EUR/JPY skidding to Y106.50 around the same time. Dollar reversed from there, skidding to Y81.45 as weekly jobless claims disappointed and losses stretched to Y81.35 by the option expiry and around further mixed data while euro made a choppy rebound to Y107.00. Euro gains extended to Y107.30 into mid-morning, allowing dollar recovery to Y81.57, but afternoon dealings saw the dollar ease back to Y81.45 by late in the day against a backdrop of softer US stocks, EUR/JPY trading either side of Y107.00.
EasyForexNews Research Team