USD/JPY at 88.85 showing little net change in early European trade. As mentioned by Peter in commentary section, talk of stops above 89.20. Also hearing more gathered above 89.50.
Going back to something I mentioned yesterday i.e Mizuho share offering. Payment due July 21. Feeling is that height of yen buying by overseas players could well occur tomorrow or Friday. The overseas allotment is worth about $4.3 bln. Something to bear in mind.
