We’ve seen this movie before. US equities rebound from sharp early losses after lousy economic data and EUR/JPY rises along with it. USD/JPY has broken to fresh session highs at 90.17 so far, chipping away at offers which are scattered up to 90.50 near-term. Some stops are eyed in the 90.25 region, dealers report.
EUR/JPY has recovered to 115.50. It too is said to be in demand for the upcoming 16:00 GMT fixing.
