The pair was mildly softer this morning as the dollar crept back up off recent lows although the overall gains were also broadly limited with the looming US jobs data release just ahead. Dollar-yen opened at Y108.42 while euro-yen started at Y137.35. Early dealings saw dollar-yen stuck in a Y108.35/48 range while the cross marked a Y137.30/40 range. Yen pairs began to creep higher even as Japanese stock markets started the day in negative territory. Dollar-yen went up to Y108.68 while euro-yen reached Y137.65. Gains extended as dollar-yen went through rumored sellers at Y108.75/75 and then took out the overnight high at Y108.88. Dollar-yen got up to a high of Y108.96 before sellers at the Y109.00/10 area capped the move. Euro-yen also extended the initial gains to a late morning high of Y137.88 before running aground.Dollar-yen was last at Y108.80 while the cross traded at Y137.66. All eyes on tonight’s US payrolls data. Dollar-yen stops are noted below Y108.00 and Y107.90 and, on the topside, above Y109.20 and Y110.10.
