The yen surge and general dollar dip has continued today. USD-JPY crashed through the former April low at 107.63 during Tokyo-less trade in Asia before extending to an 18-month low of 106.91 during the London AM. EUR-USD, meanwhile, rose to a 17-day peak at 1.1414, assisted by the soft buck and strong Spanish and French GDP data, which was duly followed by the release of 0.6% q/q growth in Eurozone Q1 data, double the median forecast, although by this time the euro had settled back under 1.1400, where it remained.
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