The pair opened at Y102.32 in early Asian trade while euro-yen started at Y140.51 today. Dollar-yen traded sideways in the opening hours and then got up to a Y102.41 high after Japan’s trade data and just before Japanese stocks opened lower. That negative open in the Nikkei 225 triggered dollar-yen’s selloff, and the pair dropped quickly to Y102.05 as euro-yen also sank to Y140.23 as stock market losses mounted. Yen pairs paused there and dollar-yen was at Y102.18 when the disappointing China HSBC flash PMI was released, which sent risk assets tumbling and pushing euro-yen down to a low of Y140.05. Dollar-yen followed, diving to a Y101.86 low, after minor stops were hit on the move through Y102.00. The pair stabilized after that but remained near the lows while euro-yen was carried back up to Y140.42. Dollar-yen last at Y101.92 whilethe cross was down again at Y140.16. Some weak demand spotted in dollar-yen below the session lows, from around Y101.85 while more stops are seen at Y101.70, just below Tuesday’s Y101.76 low.
