Pair sits a handful of pips higher in....>

DOLLAR-YEN: Pair sits a handful of pips higher in early trade this week to last

print at Y107.72, with U.S. equity index futures also edging higher, although

both are a touch off best intraday levels.

- We have discussed reasoning behind the modest risk-on flow at the start of the

week and must remember that market holidays have sapped liquidity from various

global trading hubs.

- On the Japanese news front, Economy Minister Nishimura recently confirmed the

rollback of emergency measures for all of the regions that were still subjected

to such limits, while focus continues to fall on fiscal matters after the the

Nikkei noted that the Japanese government has begun finalizing a coronavirus

relief package of more than Y100tn. The piece pointed to approval of the package

this coming Wednesday.

- Initial resistance at Y108.08/09, which represents the Apr 16 & 17 highs/May

19 high, with initial support at Y107.30, the May 19 low.

- BoJ rinban ops headline the local docket today.