The yen has taken a softer turn today as a risk-on thee broke out in Asia. USD-JPY recouped to the 113.00 area after opening in the mid-112s, above Friday's 10-day low at 112.30. EUR-USD is softer today, dipping back under 1.1100, but has remained comfortably within Friday's range as the market consolidates following a five-day losing streak that ended last Thursday. Sterling looks vulnerable as Brexit risk rises following the watered-down reforms that PM Cameron obtained from Brussels on EU membership terms.
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