USD/JPY 108.50-110.50 range for the week?

Forecast for the yen – this via Bloomberg – from Mizuho Bank in Tokyo

• probably stay in 108.50-110.50 this week
• exporters blocking topside above 109.50
• importers to buy on dips amid speculation that they are behind in fulfilling their demand

Dollar probably maintain its firm tone

• U.S. interest rates among the highest in developed countries
• has prompted fund flows into America from EMs
• move seen as overdone and investors have adjusted their positions by returning some funds back to emerging economies last week

EUR/USD expected to be capped above 1.2, while it is unlikely to fall below 1.15