The pair had closed the NY session monday at Y99.34, edged to Y99.44 in pre Tokyo trade before getting pressed to lows of Y98.83. Importer demand emerged into the Tokyo fix to correct rate back to Y99.04, with Japan Aso comments that BOJ easing under Kuroda has been drastic, though admitting that BOJ easing will take som,e months to take effect, knocking it back to Y98.90. Continued dip demand allowed rate to recover through the Asian afternoon, trading to Y99.21. A brief spike down to Y99.05 was blamed on a fat finger trade, with buyers quickly emerging to settle the rate around Y99.10 into Europe. Euro-yen tracked dollar-yen moves, the rate initially dropping back to session lows of Y129.24, from its early Asia high of Y129.99, before recovering through the balance of the overnight session to Y129.82 into Europe. Japanese exporter offers seen in place into Y99.50. Importers buy interest expected to emerge into dips.
