USD/JPY Erases Loses, Japan Services PMI Edges Up

USD/JPY is trading at 116.67, down 0.46. The pair is trading with a wide overnight range and has erased a good portion of the session losses. Market chatter about global headline news and comments from both U.S. and Japanese policy makers is making the rounds. The Nikkei Japan Services PMI (purchasing managers survey) for December edged up to 52.4 versus 51.3 in November.