USD/USD - 92.23.. It appears weakness in the Japanese yen y'day n today is due to a broad-based return of risk appetite more than current political uncertainty in Japan as Asian bourses are trading sharply higher (N225 gained as much as 3% in the morning) n rise in the commodity currencies suggests yen is sold across the board. European stocks are expected to open higher following y'day's jump in U.S. equities (DJI closed up 225 points). Active 2-way flows have been seen in Tokyo trading n once offers by Japanese exporters at 92.30-40 are cleared, dlr shud easily climb to 92.60/70 in Europe. Bids remains strg at 92.10-00 area.
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