The yen flipped lower after logging a three-day high versus the dollar at 108.22 during the Tokyo AM session. This saw USD-JPY rebound to a peak of 108.94, putting yesterday's two-week peak at 109.37 back in the frame. EUR-JPY also rebounded from early losses, peaking at 124.43, which is one pip shy of Tuesday's two-week high. USD-JPY selling interest is reported into 109.00, which is also a barrier level of options structures expiring at the New York cut today.
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