XE Market Analysis: Europe – Mar 28, 2018

The yen was moderately bid amid a rekindling in risk aversion in global asset markets, led by a sharp tech-sector rout on Wall Street yesterday, which left the Nasdaq nursing a hefty 2.9% loss at the close of the regular session. USD-JPY drifted to a 105.32 low, subsequently picking itself up back above 105.50 into the London interbank open but so far remaining off yesterday’s high at 105.90. News of the visit to Beijing by North Korea’s Kim dampened the bid for yen, along with BoJ’s Kuroda repeating that the central bank will persist with “powerful” monetary stimulus.