JPY dipped to session low of Y102.92 after starting the week at Y103.02 in Asia morning, dollar bulls brought it to session high of Y103.23 before Japan’s 3Q final GDP & trade data was released and it drifted down to session low of Y102.89 in late Asia morning before rebounding to Y102.99 last. Dollar bulls cleared offers at Y102.95/00, breaching NY’s high of Y102.97 but further offers at Y103.20/25 capped the pair’s advance and bulls took some profits albeit weaker-than-expected data. Euro-yen tracked dollar-yen’s movement as it edged up to hit fresh 5-year high/session high of Y141.55 before retreating to session low of Y140.69 and rebounds to Y141.15 last. Dollar-yen’s strength built on last Friday’s strong NFP numbers and strong rally in Japanese stocks as it gapped higher on Asia opening, the Nikkei rising 1.93% last. Theyen crosses remain biddish amid stronger dollar-yen and higher equities. Strong China trade balance & exports boosted aussie and Asian stocks as well, lifting yen crosses higher.
