The pair closed in NY at Y102.32 after rate had been driven to extended highs of Y102.40 into the close. Rate came under early pressure into Asia, sales pressing the rate back to Y102.17 before Go to bid day linked importer demand lifted it back to Y102.32. This recovery ran into decent exporter sell interest which took rate through the earlier pullback low and on to Y102.05 before fresh demand cushioned the move ahead of the figure. Rate then settled between Y102.10/30 through the balance of the session. Asian traders have reported decent sized offers in place between Y102.40/45 and said to be linked to protection of the Y102.50 barrier. Importer demand seen into Y102.00, stops below Y101.90 but if triggered expected to encounter further importer demand interest which is said to be placed all the way down to Y101.00.
