The dollar made a strong advance vs the Yen during the NY session and fell vs the high yeilders-a clear indication the market saw an oppurtunity and took on additional risk as expressed by the apparent buying into carry trade positions after last week's sell-off.
On the GBP/JPY, a peak price of 251.6 seen on July 20 was sold all the way down to 240.09 in Friday's rout. Monday's recovery in the NY session took it back to 241.2 just before Wall Street closed after Sunday's open at 238.77. It had opened Monday's Wall Street session at 240.09
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