Dollar-yen closed in NY at Y90.76, the rate continuing to hold familiar ranges with market aware of large option expiries for month-end/Thursday with strikes concentrated between Y90.00-91.50. Early demand for yen pairs ahead of the Tokyo fix was linked to Goto-bi Day interest, the rate lifting to an early high of Y91.03 before profit take sell interest above the figure was encountered. Rate then settled between Y90.85/00 ahead of the European. Euro-yen saw similar fix interest, pushing up from its open a t Y122.40 to Y122.83 before settling between Y122.50/70. Traders also noted Japanese interest to buy Aussie-yen, said to be linked to Toshin issuance. Late Asia comments from the Japanese PM Abe that noting that priority is to reach the inflation target quickly, adding that a revision of BOJ law still a future possibility, provided a late session boost to Aussie-yen, added buoyancy in other yen pairs.
EasyForexNews Research Team