It’s been pretty quiet in Asia, after a fairly hectic round of Yen selling in late NY trade. EUR/JPY and GBP/JPY are now back at their NY closing levels of 120.80 and 142.65 respectively. Comments from the Japanese FinMin extolling the virtues of free-floating currencies have helped the Yen regain some losses. I guess his interpretation of free-floating and mine are somewhat different 🙂