The yen weakened moderately while most of the other main currencies posted narrow ranges in pre-London trading in Asian markets. USD-JPY lifted to a fresh six-week high of 107.58, while EUR-JPY lifted toward trend highs and AUD-JPY clocked a one-month high at 83.69. A rebound in global markets aided the yen lower as more of its safe haven premium unwound. The Nikkei closed some way off its highs following a late-morning selloff, but still with a 0.55% gain. Trump’s U-turn on TPP went down well in most Asian markets. News and data were thin on the ground today in Japan and Asia.
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