USD pair had seen strong buys ahead of the US session but stalled shy of Y81.80 as talk of sizeable offers ahead of Y82.00 trumped other chatter of hefty stops in the same zone while EUR/JPY tested, but respected, Y108.00. Dollar drifted to Y81.70 in sideways dealings, leaving euro-yen to dip to Y107.70 before recovering for a second look at Y108.00, both then retreating again around the ECB fixing. A quick dollar dip based at Y81.55, briefly dragging EUR/JPY to Y107.55 but euro gains elsewhere propelled the cross to fresh high at Y108.00, allowing dollar return to Y81.70 but those dollar gains proved fragile as the greenback deflated slowly from there. Dollar was back at Y81.55 by midday as euro eased to Y107.75 and both held close by in quiet afternoon dealings, ending at Y81.58/107.80
EasyForexNews Research Team