The pair opened at Y107.13 this morning after it recovered from a Y106.81 low during the US hours. The pair edged up early to Y107.18 and then extended the recovery to Y107.27 soon after Japanese stock markets opened higher. The rebound continued with dollar-yen then hitting a high of Y107.30 before selling interest at Y107.40/50 then capped the move. Dollar-yen retraced its initial moves and slipped back to Y107.14 before staging another rally to Y107.30 in the afternoon. Euro-yen’s moves meanwhile mirrored the pair’s, with the cross opening at Y138.84 this morning. It marked the low of Y138.87 early in the session and then rebounded as the session got fully underway, touching a high of Y138.95. It held near there for a while and then backed away to Y138.80 before another afternoon rebound was then seen to Y138.93. Dollar-yen was last at Y107.24 while the cross was at Y138.90.
