Opened in early Europe at Y77.59 and Y101.79 Opened in Asia at Y77.78 after falling back from NY highs of Y78.28, The FOMC brought risk back on to the table which sparked a massive risk rally in the EUR and Gold. The USD fell back sharply after the news but consolidated in Asia trading a Y77.68-84 range. EUR/JPY traded Y101.78-97 after a NY high of Y101.98. In Europe USD/JPY range traded for the most, before spiking lower to Y77.41 on reports that private investors have accepted lower rates on a Greek deal, triggering stops on the move. Rate met technical support and lifted back to Y77.54 ahead of NY. Risk sentiment returned in morning trade with the cross posting intraday highs Y102.16, aided by headlines from Greece. EUR/JPY eased on the open to Y101.59 tracking EUR/USD moves, before lifting on real money demand to Y101.80. The pair traded flat before spiking to Y102.16 on earlier mentioned Greek news, triggering stops on the move. Profit take sales eased the rate back under Y102, before running into Middle-Eastern demand and close the morning around Y102.05.
EasyForexNews Research Team