The pair initially spiked from Y95.25 to Y95.75 after the Fed said labour market shows further signs of improvement and downside risks diminished. Fresh demand emerged taking the rate to Y96.40, before dropping back as yields retraced. The dip was bought into and the pair soared through the 100-day ma to highs of Y97.03, flushing stops on the move. Profit take sales later eased to close in NY at Y96.50. Euro-yen tracked the dollar and triggered stops through Y128.50 to print highs of Y128.77, later drifting to close around Y128.15. Macro demand lifted dollar-yen in early Asia to Y96.75 but as momentum stalled and the Nikkei opened in negative territory, this prompted a bout of dollar sales taking the rate to Y96.20. Support in the dip cushioned, a turn in the Nikkei boosted sentiment and the dollar recovered post Tokyo fix to Y96.70. Fresh demand emerged in the Asia afternoon lifting through Y97.00 to highs of Y97.18, later easing to Y96.85/90 ahead of Europe. Euro-yen bounced off lows of Y127.82 to extended highs of Y128.81, before settling around Y128.40/50
