Another non-event for the USD in Asia after spending yesterday strangled into a Y76.03-24 range. Usual comments from Japan’s Finance Minister Azumi to take firm steps to combat any speculative moves in the JPY were ignored, as traders wait patiently for this afternoon’s US non-farm payroll data and a decision on the Greek/PSI debt deal. The USD traded a Y76.14-26 range hemmed in by bids ahead of Y76.00 and exporter offers towards Y76.50. Stops are seen on a break down of Y76.00 with larger through Y75.50 but bids lie in between around Y75.80/90. EUR/JPY tracked the EUR/USD through a Y99.93-100.23 range. Stops are reportedly set on a break of Y99.90 and up through Y100.50. AUD/JPY fell back from early highs of Y81.67 to Y81.31 on weaker Chinese non-manufacturing PMI data and some squaring up ahead of the NFP. GBP/JPY was steady in a tight Y120.27-120.53 holding firm as EUR/GBP falls kept the cable bid.
EasyForexNews Research Team