The pair started Thursday session at Y115.49 after trading a NY range of Y114.89 to Y115.74. Early demand lifted the rate to Y115.60 before Japan data, the rate kneejerk to Y115.65 post data before correction to fresh session low of Y115.43 but demand emerged to lift the spot to fresh session high of Y115.88 during late morning Asia after local newswires report cite a senior LDP official said Abe prepared to call for snap election next month. Weakness in Nikkei pressured dollar-yen lower but recovery in Nikkei and talks of snap election further buoyed dollar-yen higher. The euro-yen pullback from 10-months high yesterday at Y144.71 to open at Y143.64 after trading a confined NY range of Y143.44 to Y143.81. Early demand paid the pair to Y143.93 from session low of Y143.57, on firmer euro on back of stronger aussie in early trade. The cross recovered to Y143.69 on softer aussie after RBA Kent’s comments and rallied to fresh session high of Y144.12 after reports of possible snap elections. The pairs retreat to Y115.70 and Y143.98 last. Demand on approach at Y115.40 kept dollar-yen supported, while medium offers at Y115.75/80 failed to cap the pair’s advance, further offers reported at Y116.00 with stops noted above Y116.11/15.
