Narrow ranges have prevailed for the most part, though themes of Yen weakness and Aussie Dollar firmness have been evident, while EUR-USD managed to edge out a fresh two-week low at 1.1581. USD-JPY lifted to the upper 111.0s, reflecting a broadly softer Yen today as global stock markets stabilize. The 10-year JGB yield also fell to 0.103%, aided lower by scheduled BoJ purchases today, with the central bank making clear through its actions over the last day that it won’t be a one-way street to its newly installed 0.2% upper yield limit.
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