The pair started the week at $1.3706 in Asia morning, early euro-yen cross buying pushed the pair to session high of $1.3721 before retreating to session low of $1.3701 and retrace to $1.3705 last. Rally in Japanese stocks and strong China trade balance/exports data kept yen crosses elevated with euro-yen hit 5-year high of Y141.55 forcing the euro to hit session high. But good selling interest in dollar-yen and profit taking capped dollar-yen and euro-yen’s uptick. Real money offers at $1.3710/12 were filled in early trade but further offers at $1.3730/40/50 capped the euro’s advance withstops above $1.3765. The euro breached NY’s high of $1.3706 and trades near theupper Bollinger band at $1.3709 in fairly tight range Asia market as the yen crosses play dominated in Asia before Europe steps in.
