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USDJPY fades off the overnight high

USD
  • Another painful session for the Yen, albeit off its worst level against the USD, with selling going through in Equity futures since the Bund cash open.
  • Next decent area of interest for the USDJPY is at 121.49/121.69, the February and January 2016 peaks respectively.
  • USD remains on the front foot, up against all G10s besides the Pound.
  • But on the margin, the USD is circa flat, versus the GBP, NOK, EUR, CAD, and the SEK in early European trade

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