Euro-yen was a key mover through the Asian session with rate pushing up from an early posted low at Y106.77. Triggered stops through Y107.30 provided the added momentum to take it up to session highs of Y107.53 before rally strength faded. Rate eased off to Y107.18 ahead of the European open, currently trading around Y107.24. Dollar-yen pushed to an early high in Asia of Y82.51 on the euro-yen rally but move was met by decent supply from a north Asian sovereign. The pullback to Y82.33 ran into Japanese importer demand which bounced rate back to Y82.47. Fresh sales emerged with rate pressed down to lows of Y82.26 ahead of the European open, currently trading around Y82.28. Main offers in this pair seen at Y82.90 through to Y83.00. Bids Y82.20, Y81.90. Options traders highlight a large Y82.00 strike option set to roll off at today’s NY cut. Tuesday has larger option maturities, with Y81.00 and Y82.50 the stand out interest.
EasyForexNews Research Team