JPY unit was again the standout currency in an otherwise quiet, holiday-thinned Asian market today. Dollar-yen started at Y104.38 in Asia today and then edged higher through the morning while euro-yen started at Y142.78. Dollar-yen jumped a few notches higher as Japanese stocks opened in the positive and in the wake of the release of the Boj minutes but paused ahead of the Dec 20 high of Y104.64, also the previous high for 2013. Dollar-yen broke through soon after and was carried up to a Y104.85 high in very thin liquidity. That marked the pair’s highest since October 2008. Euro-yen also gained in unison, peaking at Y143.37, also its best since Oct. 2008. Dollar-yen held near the highs through the rest of the Asian morning, and was last at Y104.67 while euro-yen was at Y143.23. For now, the topside looks like the path of least resistance for dollar-yen with a close at fresh 2013 highs targeting the Y106.90-10 region.
