US dollar lower in the first hour of trading
USD/JPY is down 42 pips to 112.80 after falling as low as 112.68 in thin pre-market trading.
The pair embarked on somewhat of a reversal on Friday. It jumped early and hit a cycle high of 113.90 as the raging rally in the pair continued but it sagged midway through European trading and finished at 113.15.
