A minor down day for the JPY this morning, with both dollar-yen and euro-yen gaining through the Asian session, supported by better risk appetite on the back of better stock market performance. Dollar-yen opened at Y104.62 after after dovish comments from the Fed’s Rosengren pushed the pair to a low of Y104.33 in the US. Euro-yen meanwhile started at Y142.42 after an overnight low of Y142.22. Early trades then saw yen pair edge higher, with dollar-yen going to Y104.74 initially while euro-yen rose to Y142.60 ahead of the stock market opening. Both pairs then witnessed a spike higher after Japanese stocks opened in positive territory. Dollar-yen jumped to Y104.89 but ran into sell interest ahead of a Y105.00 barrier which hampered the move up initially. It eased to Y104.77 and then made another run up to a session high of Y104.94 before being turned back again. Euro-yen rallied to Y142.98 before the gains then tapered off as dollar-yen failed to follow-through. Early afternoon revival sees dollar-yen test the Y105.00 mark but so far has not broken through while euro-yen has managed to push through Y143 for a high of Y143.15. Dollar-yen last at Y104.97 while the cross was last at Y143.13.
