Dollar-yen saw a late drive higher in NY Friday, the rate pushing to a high of Y93.68, from day lows of Y92.44, before it drifted to Y93.59 into the close. Rate nudged up to Y93.70 in early Asian trade on Kuroda comments (suggested size and type of assets the BOJ now buys not enough to achieve its 2.0% inflation target, though noted buying foreign bonds would be difficult). Nothing particualry new in Kuroda’s comments though was seen as him accepting the nomination for BOJ Governor. Corporate supply greeted the early rally, and with the Nikkeo reversing early gains, saw rate ease to Y93.29. Rate settled between Y93.30/50 into Europe. Euro-yen closed NY at Y121.87 after easing off late rally highs of Y122.17. Early volatility into Asian trade, with rate dropping to Y121.43 before recovering to Y121.99 into the fix. Decent offers said to reside at Y122.00, with sell interest here able to reverse this early move, taking it back to Y121.38. Rate recovered to Y121.80 before heading lower again into Europe on general euro sales, the rate easing to Y121.28.
EasyForexNews Research Team