Forex news for Asia trading Wednesday 11 May 2016
After popping to a high in very late NY trade around 109.40 ( just shy of there) USD/JPY ticked slowly back a few points in subsequent hours and stabilised in the 109.05/109.20 area before plunging in the Tokyo morning. There was little in the way of fresh catalysts for it, but the move was sharp, from around 109.15 to under 108.80 before falling a few minutes later to a session low toward 108.60. Yen crosses were lower with this move also.