The yen has corrected some of the gains seen in the Tokyo session as a more pronounced bullish session in European equity markets replacing a more mixed-tone to trade in Asia, providing markets with a cue to trim safe haven positioning in the yen. USD-JPY is presently showing a 0.2% gain on the day, trading above 108.20 after making a 17-month low in Tokyo at 107.56. EUR-USD has continued to orbit 1.1400, dipping back to the 1.1375-80 area in the latest phase after an earlier swing above 1.1400 ran into gravitational pull comfortably below last Thursday's six-month zenith at 1.1454.
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