Yen is out performing in Asia time

I noted earlier the hit the USD was taking from the strong CNY setting:

• The PBOC cracking 7.1 in its USD/CNY fix has sent the USD lower across the board

While EUR is pinned by a large set of option expiries:

• EUR4.13bn strikes in EUR/USD circa 1.1600. A likely magnet for EUR/USD in Asia.

Other FX is ticking a touch stronger.

Except for yen. that has managed a very solid gain.

Political jockeying in Japan continues. The latest chatter is that the heads of Japan’s main opposition parties are expected to discuss whether they can close policy gaps and pick a candidate of their own for the nation’s premiership. The yen had weakened on the prospect of Takaichi becoming premier. She’s not out of the running, but not a lock either.

This article was written by Eamonn Sheridan at investinglive.com.