The JPY has seen some across the board strength overnight in Asia. USD/JPY is down at 96.20 from a North American close Monday around 96.55, while EUR/JPY is down at 135.90 from around 136.60.
Japanese exporters are said to have stepped in to take advantage of the recent weakness in the JPY to repatriate some overseas profits.
There is some event risk for the euro today in the form of the 09:00 GMT release of euro zone April unemployment, which is expected to see the jobless total rise to 9.1% from previous 8.9%.
GBP/JPY is down at 157.70 from around 158.70. Sterling has received a slight knock from the news that Barclay’s Abu Dhabi investors are to sell $6.8 bln of shares in the bank after a 54% rally since the investment was made. It also looks as though 1.6500 may be a temporary top for cable.
