JPY markets re-opened today after a Monday holiday but overall trade flows remained light. Talk was rampant of large option expiries this week, at Y99.00 for today and tomorrow, with other Y100.00/10 expiries due later this week. That kept dollar-yen within relatively tight ranges through the morning. Dollar-yen dipped early from Y98.66/68 highs, to Y98.50 soon after Japanese stock markets started. Losses then continued withdollar-yen soon drifting down to fresh lows for the morning at Y98.23 before bouncing. Despite that, the pair remains confined within the daily Ichimoku cloud so far, with the lower limit of that at Y98.22. Euro-yen meanwhile opened at Y133.25 and followed dollar-yen lower through the session today. It traded a low of Y132.72 before then bouncing into the early afternoon. Dollar-yen was last at Y98.41 while the cross was at Y132.84. Looking ahead, BOJ Governor Haruhiko Kuroda is due to give a speech to business leaders in Osaka later, at 0630 GMT.
