Dollar-yen closed in NY at Y91.09, edging up in early Asia to mark highs at Y91.15 before Tokyo opened and sold into the move. Rate continued its corrective pullback away from Wednesday’s highs of Y91.41, pressing down to Y90.75 before settling between Y90.85/91.00 into Europe. Focus today on option maturities at the NY cut, the market having been told in recent days that strikes from Y90.00 through to Y91.50 hold some large interest, which have been anchoring the rate. Once these are out of the way rate to have potential to break out of this recent range, especially with US jobs data looming on the horizon Friday. Large option barrier interest remains in place at Y91.50. Euro-yen closed in NY at Y123.36, touched an early high into Asia at Y123.72 before Tokyo sold back into the rally at their open, taking the rate to Y123.08 into Europe after an attempted recovery off Y123.13 faltered into Y123.60.
EasyForexNews Research Team