USD/JPY - 91.08.. Although follow-through buying was seen ahead of Tokyo opening after y'day's rally in NY session, dlr retreated after initial fixing-demand rise to 91.36 but good offers by Japanese exporters n mega banks at 91.30-50 region checked intra-day gain. Bids remained at 91.00-90.80 area, suggesting good 2-way flows are likely to be seen until European opening. Asian stocks have pared morning gains after opening higher following y'day's 284-point rally in DJI (Dow futures currently down 21), therefore, see dlr drifting lower to test downside sup at 90.75 (prev. res) b4 prospect of another rise.
Join the Discussion