The pair ended the NY session at $1.1550 after registering a trading range of $1.1541 to $1.1605. Early weakness pressured the pair to session low of $1.1542, but respected NY’s low and rebounded higher to $1.1573 before BOJ announcement. Post BOJ, the rate kneejerk lower to $1.1563 before extending gains to fresh session high of $1.1576 in early Asia afternoon. Some profit taking eased the rate to $1.1562 before renewed demand lifts the rate to $1.1567 last. A plunged in dollar-yen supported the euro but interbank players supply were heavy despite a stronger ZEW survey report. Thinner volume reported during Asian session as focus shifted to dollar-yen and euro-yen prior to BOJ announcement and traders await for ECB meeting tomorrow. Medium demand at $1.1540 supported the euro with further demand noted at $1.1500/490 and medium offers and option expiry reported at $1.1600 worth $1.5bn.
