The pair started the Asian day around Y101.45 with the both the dollar and the Japanese currency in demand amid safe-haven flows while tensions continued between Ukraine and Russia. Dollar-yen edged higher in early trades, but initially struggling to get above last night’s Y101.53/59 overnight highs seen during the European and US hours, after Japanese stock markets opened slightly lower. Dollar-yen broke higher when Japanese stocks reversed the opening losses and traded in positive territory toward the end of the morning, with the pair hitting a session high of Y101.71. It eased a few notches afterthat but bounced again off Y101.57 as the US dollar was budged higher after the RBA decision. Dollar-yen was last at Y101.66 while euro-yen was at Y139.55, following a Y139.28 to Y139.58 range. Further dollar-yen gains through the morning high could encourage a recovery through the 100-day moving average at Y101.92, before any test of rumored offers toward Y102.00.
