The USD/JPY pair is on the rounds near 111.90 as Tokyo market opens for Tuesday’s trading session. The quote seesawed at the start while marking initial reaction to the news reports that signal hardships for Iranian crude exports from the US and expected cross-party talks to safeguard her position by the UK PM May.
With some of the global markets being absent of Monday, coupled with lack of big releases, traders remained mostly calm except favoring oil on supply crunch expectations and trimming some greenback gains past-housing data.
Global equity markets also followed the suit with little change due to the absence of major catalysts. The DJIA shed nearly 47 points but S&P and Nasdaq were in gains.
Source : FXstreet