FX Update: USD-JPY and yen crosses proved the main action
FX Update: USD-JPY and yen crosses proved the main action as the yen strengthened following a report in Kyodo News citing an unnamed BoJ member saying that there won't be an easing at the November policy meeting. USD-JPY shed about 0.5% in making an eight-day low at 103.24, while EUR-JPY dipped by a similar magnitude as it clocked a three-week low at 113.53. EUR-USD, meanwhile, plied a narrow range, of 1.0974-1.1004, holding comfortably within yesterday's range. Sterling saw some chop but was settled with a fractional gain versus the dollar, as of the early European PM. Branson, of Virgin fame, said earlier that there is little to gain from Brexit and much to lose from it, something that Brexiters will of course passionately disagree with.