JPY was the only major currency that managed to hold steady through the Asian morning today, compared with other units like the euro and aussie which slipped marginally. Dollar-yen started in Asia at Y97.38 and was initially supported off the 200-day moving average at Y97.31 in early dealings. Euro-yen meanwhile began the session at Y134.15 and started the day holding a tight Y134.08 to Y134.18 range. Dollar-yen broke above the US session high of Y97.45 amid risk-on trades and was carried up to Y97.53 highs soon after, while euro-yen also went up to Y134.42. There was a bout of profit-takingmidwya through the morning, which drove dollar-yen back down, with the move then picking up pace when the 200-day gave way again. Risk sentiment however got another boost a few minutes after then the HSBC China flash PMI data were released, and euro-yen rallied off a Y133.90 low in line with other yen crosses. Dollar-yen went back up to Y97.48 before consolidating lower in the early afternoon. Dollar-yen last trades at Y97.33 while euro-yen was at Y134.20.
