Daily Market Notes
Tokyo Never Went Back for the Low — and the Fix Printed Above the Session High
Tokyo's low was 157.76 against New York's 157.52 and the whole session fit in 38 pips, never going near the twenty-day average that New York pierced by two pips. Dollar-yen rose while euro-dollar took out Thursday's high, so the yen was weak against a dollar that was itself weak - the combination that breaks a dollar-index filter. And the morning fixing rate printed at 158.17, three pips above the published session high, while the same publisher's session lows rose between two notes four hours apart.