Forecast for the yen - this via Bloomberg - from Mizuho Bank in Tokyo
- probably stay in 108.50-110.50 this week
- exporters blocking topside above 109.50
- importers to buy on dips amid speculation that they are behind in fulfilling their demand
Dollar probably maintain its firm tone
- U.S. interest rates among the highest in developed countries
- has prompted fund flows into America from EMs
- move seen as overdone and investors have adjusted their positions by returning some funds back to emerging economies last week
EUR/USD expected to be capped above 1.2, while it is unlikely to fall below 1.15
