Stocks have rallied 0.4% but has not shown much propensity to follow suit, hanging around the 1.2165 level now after its bounce out of the lows reached only the low 1.2190s…pretty anemic.
USD/JPY is showing significantly more life, trading in the mid-92.60s, bot far from session highs at 92.80 first thing this morning in NY.
Since central banks were sellers above 1.23 earlier today, it would not be much of a stretch to expect some buying on dips below the 1.2150 level, though I’ve heard very little specific other than small buying near 1.2200 on the way down at midday.
