17 Mar 2014 02:35GMT
USD/JPY -101.48.. Although dlr opened near Fri's NY 101.21 low at 101.24 in NZ trading today, short-covering lifted price in Toyko morning n dlr climbed to 101.57 b4 easing.
At the moment, offers are seen at 101.60/70 n more at 101.90/00 whilst bids are placed near 101.00 n around 100.80/85 with stops emerging just below 100.50.
Expect choppy trading to continue ahead of Toyko afternoon as Nikkei 225 index is moving between gains n loss (last seen down 63.45 points to 14,264) after over 90 percent of Crimean voters chose to break with Ukraine and join Russia on Sunday. However, investors should keep an eye on the release of Japan Cabinet Office monthly economic report for March later today.
Highlights fm the economic report in Feb - 'the Japanese economy is recovering at a moderate pace; exports are flat; industrial production is increasing at a moderate pace; corporate profits are improving. Business investment is picking up; firms' judgment on current business conditions is broadly improving; the employment situation is improving steadily; private consumption is increasing, while showing a last-minute rise in demand before a consumption tax increase in some sectors; prices are rising moderately.'
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