A generally subdued session for pair this morning although there was some interest in yen crosses earlier. Dollar-yen opened at Y101.47 after it finally made a strong break above Y101.50 last night in the US, peaking at Y101.60. Early Asian dealings saw dollar-yen holding back below Y101.50 but the pair then made another push through for a high of Y101.56. Again, follow-through was lacking and offers from Y101.60 overwhelmed, pushing dollar-yen back down to Y101.48. The release of Australian CPI data saw the aussie spike higher, and aussie-yen followed suit, with the cross jumping from around Y95.30 to Y95.70 within minutes. Dollar-yen tracked the move back up toY101.56 but again failed to make further headway, before then retreating all the way back to the session low of Y101.38 as the dollar broadly lost ground. Dollar-yen was last at Y101.42. Offers remain intact from Y101.60, and from Y101.80 up to Y102.00, with stops then seen above Y102.10. Dollar-yen demand meanwhile is seen from Y101.20, while further down, players are keeping a watch on whether those previously reported bids from semi-official names are still at Y101.00.
