JPY witnessed a quiet start to the new week this morning, with dollar-yen opening at Y97.88 and as euro-yen started at Y133.83 after a lack of any fresh major news over the weekend. Traders said the early market environment was largely of a risk-on nature, giving euro-yen a mild lift to Y134.04 and keeping dollar-yen also supported but pinned back below Y98.00. Dollar-yen pushed through Y98.00 minutes after Japanese stock markets opened higher and was then carried aloft by demand from around Y97.50 and Y97.35, dealers said. The pair edged just past the US session high of Y98.10 for a highof Y98.11, while euro-yen went up to Y134.14, also past its Y134.05 Friday US high. The gains faded soon after that and dollar-yen retreated to mid-range at Y97.90 while the cross also slipped to Y133.88. Afternoon trade saw renewed bids in dollar-yen and euro-yen carry the pairs back above Y98.00 and Y134.00, respectively as regional stock market gains continued to support risk-on trades. Dollar-yen was last at Y98.07 while the cross was at Y134.10.
