1957 ET – Speculators waiting to buy the yen and waiting for any risk-aversion cues found some in local headlines about Japan supposedly updating its missile-intercepting technology in response to North Korean saber-rattling. Still, there’s an upside, says Stephen Innes, Head of Trading at Oanda Asia. “One of the best trades of the year has been to fade” geopolitical concerns that usually surround dollar-yen. Today’s move is “too shallow to bring out risk-hunters,” although “we’re back at the old tug of war” between US yields and risk sentiment as the dollar settles in the Y111-113 range. It’s at Y112.45 after briefly breaching Y113 yesterday. (firstname.lastname@example.org; @SuryatapaB)
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