Traders are seeing very strong demand for USD/JPY late in the European session, underpinned by a general dollar recovery. The market once again set about to sell USD/JPY overnight as the Japanese Finance Minister reiterated that he is not concerned about JPY strength that is a function of a weak dollar.
Soft US yields helped undermine the dollar in early US trade, but the rebound across the board has set off a wave of short-covering.
Exporter offers are seen on rallies now to the 90.80 and 91.00 levels, traders report.USD/JPY trades now at 90.70.
