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USD/JPY has added 15 pips and last.......>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY has added 15 pips and last trades at Y110.12, with the yen
underperforming its G10 peers, as the Nikkei 225 opened on the front foot.
- The BoJ released the summary of opinions from its latest MonPol meeting, which
revealed that the members discussed the MonPol outlook, although they didn't see
the need for imminent action. A few members emphasized the need to continue with
the current policy mix.
- The rate added 5 pips Monday, although JPY topped the G10 pile in the Asia-Pac
session, buoyed by a broader risk aversion. However, the Asia/European crossover
saw the pair bounce from a 6-week low of Y109.71, as risk appetite improved. As
a result, USD/JPY breached the Y110.00 mark, peaking at Y110.24, before
faltering on the back of greenback weakness inspired by soft U.S. Tsy yields.
- Bulls need to clear the aforementioned yesterday's high before attempting a
move at Y110.46, which represents the 50-DMA. Conversely, bears look for a
return below the Y110.00 figure, which would open up the lower 1.0% 10-DMA
envelope at Y110.76, just above yesterday's 6-week low.
- Japanese industrial output, labour mkt data and Tokyo CPI hit on Friday.
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