JPY strength picking up a bit during Asia-Pac so far

Catalysts remain thin but we are seeing some strength creep in the for JPY during the early Asia-Pac session so far.

I would doubt whether the hotter-than-expected retail sales data is to blame because the JPY very seldom takes this data series seriously.

Maybe some profit taking on longs as we trade above prior intervention levels? That would arguably make more sense.

In terms of weakness, the NZD leads the pack to on the downside, followed by the CAD.

This article was written by Arno V Venter at www.forexlive.com.