The pair closed in NY Friday at Y101.15. The rate initially spiked to Y101.66 on release of strong US Durable Goods data, before euro-yen sales forced the pair lower. Traders continued to sell the safe-haven dollar ahead of the long US weekend to Y100.66, before staging a late recovery into the close. Dollar-yen spiked in light Wellington trade from an opening Y101.35 to Y101.82 as traders pushed for weak stops with a UK name rumoured behind the move, before momentum stalled and the pair immediately returned to opening levels. The move lower around the Tokyo open was seen by some as comments made by Kuroda in the Telegraph that said the BOJ was watching for any signs of overheating in asset prices and would take appropriate action if financial imbalances emerge. The dollar-yen slide continued in early Asia, taking out stops through Y101.00 to print lows of Y100.79 as the Nikkei remained in negative territory. Support in the dip cushioned and the pair bounced to settle in a tight Y100.90/101.10 range for the rest of the session. Euro-yen tracked dollar moves, printing highs of Y131.67, before retracing gains to Y130.27, later bouncing to Y130.60/70.
