The pair started at Y103.01 in Asia while euro-yen opened at Y141.75, dollar bulls pushed both rates to highs of Y103.13 & Y141.87 in early morning session but retreats to a low of Y102.99 & Y141.70 respectively. Thereafter, Japanese names bought yen crosses for Tokyo fix, CadJpy & euro-yen were paid up higher. Subsequently euro-yen hit a new high at Y141.95 but met good selling interest in early noon trade as sources said the same Japanese names were seen unloading the yen crosses and the euro-yen slide to Y141.72 before rebounding to Y141.80 level currently. Dollar-yen was dragged lower as a result and marked a fresh session low of Y102.92 before bouncing back to near Asia opening level, rate last at Y103.00. Fairly calm and tight trading sessionin Asia as most traders stayed on the sidelines preparing for FOMC tomorrow night. Dollar-yen stayed under NY’s high of Y103.12 and euro-yen also showing a lower high from yesterday’s Y142.12 as the rates consolidates before FOMC. The Nikkei 225 index rebounds today, rising 0.83% last.
