A large 78.50 expiry today’s probably responsible for the lethargy in this pairing today and there seems little or no incentive to push it either way for now.
BOJ Shirakawa’s earlier comments were as usual ‘ground breaking’, and had the yen spot traders reaching for a can of petrol and a match, and I’m afraid there’s probably little to look forward to this afternoon either apart from the US durable goods release at 1230 GMT.
USD’s sitting around 78.56 which its been doing for the last hour with offers now moving down to the 78.70/75 level and bids from 78.50 layered down to 78.00…………
