The pair started in Asia on a subdued note, after ending last night’s session near Y101.15, while euro-yen closed at Y129.28, off a Y130.17 high for the cross. Initial market moves in Asia remained muted, with dollar-yen mostly stuck between Y101.08 to Y101.18 through much of the morning, while a negative open in Japanese stocks failed to overly dampen market sentiment. Fresh selling against dollar-yen appeared in the late morning, with dealers citing a speculative account for the move, and the pair then slipped to the Y100.90 region, euro-yen eased to around Y128.90. Yen pairs retreated further as Japanese stock markets started their afternoon session in the red, with players already turning their focus to tomorrow’s BOJ policy decision, pricing in expectations that no further easing plans are to be announced. Dollar-yen was last at Y100.34, having slipped back into the Ichimoku cloud (top at Y100.55) and down near a Y100.28 session low, euro-yen at Y128.34, after a Y128.22 low.
