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A fairly subdued trading session in......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: A fairly subdued trading session in Asia saw rate restricted to a
relatively tight trading range of Y105.65/89. Rate posted the low in early Asia
before it bounced hard to Y105.89 as market reacted to the lower than forecast
CNY fix. Failure to push higher prompted speculation that sell interest in place
between Y105.90/106.10, though no confirmation for this received. Support noted
into Y107.50, one Asian trader noting that the Y107.50 holds strikes for
$1.73bln of USD puts for Friday's NY cut with protective demand expected ahead.
Y105.00 holds strikes for larger USD puts of $2.27bln for the same cut. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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