In the Tokyo market at 8:00, USD/JPY remained capped on the upside, trading around the mid-¥159 range. The preliminary real GDP estimate for the April-June quarter is scheduled for release at 8:50.
At 8:00, USD/JPY stood at ¥159.14, about ¥0.18 below the New York market close of ¥159.32. Although it briefly rose to ¥159.40 shortly after 7:00, it was pushed back down again as the previous Friday's high of ¥159.53 and the post-intervention rebound high of ¥159.57 came into focus. The pair's subsequent direction may be influenced by the release of the preliminary GDP estimate.
EUR/USD was little changed, at around ¥1.1575 at 8:00. It was only slightly above the New York market close of ¥1.1570, with no clear direction emerging. EUR/JPY was slightly lower at ¥184.20 at 8:00, about ¥0.13 below the NY close of ¥184.33. As with USD/JPY, it did not move above the previous Friday's high of around ¥184.45.
As a reference range so far today, USD/JPY has traded between ¥159.14 and ¥159.40, EUR/USD between 1.1564 and 1.1575, and EUR/JPY between 184.06 and 184.37. With the market anticipating today's release of the preliminary GDP estimate, it is assessing the possibility that these ranges could shift in either direction.