Objects in motion tend to stay in motion. That’s what the black boxes “think”, so they are buying USD/JPY this morning. Japanese exporters are selling into strength, as they always do, though stop-loss buy orders are seen above 92.25 and 92.50. Offers are seen from exporters every ten pips on the way up, traders say.
Another trendy buy today has been CAD/JPY, we hear, as traders try and pick up a bit of carry after the BOC rate hike…
USDJPY changes hands at 92.20 at writing…
