Opened at Y79.26/99.66 after Y79.22/47 and Y99.50/00 overnight ranges, USD held steady above the overnight low amid quiet dealings, remaining so until benign US data provided a brief blip lower in both the USD pair and cross, dips seen to Y79.156 and Y99.467 respectively as stops were tipped in both. Rebound from there was swift but modest, dollar returning to Y79.25 and EUR/JPY to Y99.70 area before steadying, and USD settled into a narrow range around Y79.30 from then into late morning, leaving EUR/JPY to lift with the better tone of EUR/USD. A midsession nudge in EUR/JPY extended the overnight high by 4 pips before EUR/JPY deflated to Y99.90 in early afternoon. Late trading saw the dollar at Y79.28 and EUR/JPY at Y100.15 as euro spiked higher on reports that preparations were underway for a global liquidity add, if needed, in the wake of the Greek elections.
EasyForexNews Research Team