A very dull day today for the yen as Japanese markets observed the Respect for the Aged Day public holiday in Japan. Dollar-yen opened at Y107.21 today while euro-yen started at Y139.17. Early dealings saw dollar-yen edged up to Y107.33 while the cross chopped around in a Y139.04 to Y139.20 range. Dollar-yen marginally extended the high to Y107.38 in thin, morning dealings but turned back after that as euro-yen’s gains also ran out of steam. Dollar-yen dropped back to a Y107.19 low as euro-yen also sank to a new session low of Y138.94. Both yen pairs saw minor bounces off their respective lows, with euro-yen hitting Y139.10 on the rebound while dollar-yen traded Y107.27 on the rebound. The losses however resumed in the early afternoon with dollar-yen andeuro-yen both sliding to fresh session lows of Y107.16 and Y138.89, respectively. Dollar-yen last trades at Y107.18 with euro-yen at Y138.91.
