USD Reaches New Daily High Vs JPY

USD recently notched a session high at Y98.90, according to
EBS, reflecting the general
improvement in risk sentiment. While JPY had lost its status as the ultimate safe
haven for a while after
the weak 4Q data from Japan, it has recently resumed that status and is therefore
vulnerable in times
of general risk appetite, says Dustin Reid, director of G11 forex strategy at RBS
Greenwich Capital Markets
in Chicago. "With equities bid going into the end of the month, you're seeing
dollar/yen bid," he said.