Opened at Y79.04/99.90 after Y78.94/29 and Y99.73/100.85 overnight ranges, EUR/JPY had been the main driving pair as USD/JPY orbited Y79.00 and euro losses elsewhere were reflected in a EUR/JPY slide to below Y100.00 to flush stops. Dollar pair found an initial base at Y79.00, enjoying slight lift to Y79.13 before sliding further ahead of the option cut, seeing a dip to Y78.86 as EUR/JPY was slapped down to Y99.20 around the same time. Dollar held Y78.86/95 into the London fixing while euro losses extended to Y99.13 at the fixing, but both pairs tracked slowly higher into midday and early afternoon with dollar lifting to Y79.15 and euro to Y99.50 with some talk of AUD/JPY demand propping. Late trading saw the dollar end near Y79.10 with EUR/JPY at Y99.48.
EasyForexNews Research Team