Yen was on the defensive overnight though the USD was off its high by the time US traders hit the ground, dollar slippage continuing to Y81.30 as EUR/JPY eased to Y106.30 before rebounding slightly. EUR/JPY lifted to Y106.65 around the ECB fixing, nudging USD to Y81.45 but both leaked lower from there with dollar backtracking to Y81.27 as EUR slippage weighed the cross to Y106.19. With bids known at Y106.00, EUR reversed higher, lifting erratically to Y106.75 around the London fixing event while the USD pair continued to mope lethargically near Y81.30. Early afternoon saw dollar orbiting Y81.25 area, directionless, as EUR/JPY eased to Y106.60. Late dealings found the USD at Y81.26 with EUR/JPY at Y106.70 on the back of a firmer EUR.
EasyForexNews Research Team