USD/JPY has firmed as far 99.12 in the run up to 16:00 GMT fixing, the same high posted in Tokyo yesterday. 99.70 is the Tuesday high if 99.12 is taken out. In addition to broad month-end dollar demand USD/JPY is getting a boost from a 1% rally in US equities. A break through the 100.15/20 area would set up a retest of 103.00 but many fear the dollar demand could slip once the fixing is out of the way.