25 October 2016, 07:56
0456 GMT [Dow Jones] The USD/JPY is struggling to gain further at 104.38, as the pair is capped just below 104.50. The USD/JPY was heading toward the recent high of 104.63 set on Oct. 13. But, "everyone is cautious," as investors are fresh from the U.S. dollar's quick falloff about two weeks ago, says Yuzo Sakai, manager of FX business promotion at Tokyo Forex & Urda Harlow. Two weeks ago, the pair briefly touched 104.63 but then lost more than 1%, with investors quickly swinging back to the safety of the yen on disappointing Chinese export data. "I think investors have found it difficult to buy from where they are now," says Sakai. (hiroyuki.kachi@wsj.com)
