The piar opened at Y101.92 after last night’s post-FOMC run which ended at a Y102.37 high in the US. Moves this morning were more limited with dollar-yen slipping early to a Y101.87 low as the market retraced some of the overnight gains. Rumored demand from around Y101.85 managed to contain the losses and dollar-yen subsequently rebounded. Euro-yen meanwhile also dipped to an early low of Y138.43 after opening at Y138.57 but rebounded in tandem with dollar-yen. The cross peaked at Y138.59 as dollar-yen also traded a high for the morning at Y102.01. Gains sputtered after that and dollar-yen retreated again to the earlier session low toward the early afternoon. The pair was last at Y101.88 while euro-yen was last at Y138.47. Bids in dollar-yen are seen still intact at Y101.70, larger interest toward Y101.50. Offers meanwhile are noted above theY102.37 US high, at Y102.50. On the charts, immediate focus shifts back to the 200-day moving average at Y101.62 with bears continuing to look for a close below to see overall focus shift back to the Y100.75-80 region.
