Usd/jpy - 87.97 ... Despite y'day's selloff to 2-month low of 86.96 on worries of slowing global recovery, the greenback rebounded to an intra-day high of 88.22 in Asia due to short-covering on talk of BOJ's checking price together with buying fm Japanese importers. Japan Goverment Spokesman Yoshito Sengoku said he is not in position to comment on FX rates n investors are waiting for any comments coming out fm MoF Yoshihiko Noda n Motohisa Ikeda. On the upside, offers by Japanese exporters are lined up fm 88.20-88.50, suggesting dlr's upside wud be ltd somewhat today. On the downside, some bids are located at 87.50/60 n 87.10/20 with sizeable stops building up below 87.00.
Join the Discussion