Yen had enjoyed lift overnight on safe-haven considerations at the same time that euro had turned defensive, the dollar pair flushing layered stops before finding a base at Y80.97 ahead of the US session. Dollar rebound had stalled at Y81.10/15 and the greenback orbited that zone throughout the morning session, leaving EUR/JPY to blow with the breezes in EUR/USD, thus seeing a shallow dip that based around Y106.32 mid-morning. Dollar dipped to Y81.03 around the London fixing event and on light flows but better energy in euro allowed EUR/JPY to nudge up to Y106.60 before settling back to Y106.50, a move that returned the dollar to the middle of its orbit. Late dealings saw dollar at Y81.10 with euro gains stretching the cross to Y106.68.
EasyForexNews Research Team