FX Update- USD/JPY
USD/JPY consolidated adrift of 110.00 beyond the NY options cut, with a broadly softer dollar tone weighing on prices. The pair is currently trying to make upside progress, but is struggling as intraday longs favor selling interest towards the 110.00 level. Option exposure may well influence price action for the remainder of the week, with heavy expiry interest at 109.35, 109.50, 110.00 and 110.40 for Thursday and Friday’s session. The largest interest is noted from 110.00 and above tomorrow, while Friday sees a yard of 109.50 expiries. Meanwhile, the JPY crosses are relatively stable, but equally show little upside momentum as mixed equity markets limited speculative activity.