The pair falls to a low of 105.96 on the day
Traders are still a little jittery about trade talks, particularly after the EU's response here. The trade rhetoric is so far doing little to hurt the momentum in equities, but you can't rule it out entirely just yet (you never know what's going to happen with Trump, really).
Another point to note is that this month is the end of the fiscal year for Japanese companies, so yen repatriation is not something uncommon at this stage.
Also, as Mike pointed out here be wary of large options sitting at 105.50 if price starts to head lower later in the day.
