The pair started the session today at Y108.03 after a late decline to a Y107.82 low during the US hours last night. Early dollar demand from Japanese accounts gave dollar-yen a leg up to Y108.21 but gains quickly ran out of steam, forcing the pair through the US low to a low of Y107.75, with the dollar seen as a sell on rally, while Japanese stocks were also seen opening in the red. The Nikkei 225 did open lower today and stayed under pressure into the morning close although dollar-yen continued to rise as investors sought safety in dollar positions. Dollar-yen continued to trade higher through the morning, eventually trading up to Y108.46 in the late morning, resulting in a broad USdollar move higher across the region. Euro-yen meanwhile fell to an early low of Y136.66 after it opened at Y136.86 today. It staged a rebound around mid-morning, getting up to a Y137.05 high but turned down again after that. Euro-yen was last at Y136.89, while dollar-yen was last at Y108.33. Dollar-yen offers are seen ahead from Y108.90 to Y109.00. Demand interest is noted at Y107.50
