The JPY witnessed a subdued session this morning, with Japanese markets already closed for the year, to re-open only next Monday. Dollar-yen started the day below Y120.00, at Y119.53 after losing ground during Tuesday’s session due to a weak end in Japanese stocks. Dollar-yen only managed a marginal gain to Y119.57 early in the day before reversing direction again as yen crosses also weakened. Dollar-yen fell through the opening levels and slipped to a low of Y119.24. It saw a mild recovery late in the morning to last trade at Y119.44. Topside orders are sparse, with sellers noted only toward a Y120.00 expiry, while Y119.50 also contains options expiring today
