We’re seeing yen buying getting up a head of steam
USDJPY has fallen to 113.39 as yen buying picks up across the board. EURJPY is equally slumping as it hits a new low of 131.41. down, nearly 80 pips fromt he day’s highs. GBPJPY has done a bit more at nearly -130 pips to a low of 148.64.
It’s helping to give a lift to CAD and AUD, which are benfitting via AUDUSD and USDCAD, both of which are at highs/lows of the day.
There’s no news out so this looks could just be flow related. The data calendar is pretty light today with only Canadian building permists and housing starts on the list. After that , it’s oil inventories and the RBNZ tonight.