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A paring back of risk aversion allowed...>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: A paring back of risk aversion allowed USD/YEN to extend its
recovery away from Monday's low of Y109.02 (low seen on the back of Chinese
retaliation tariffs on US imports) to a high of Y109.77 in early Europe. Early
NY took rate back to Y109.44 but bounced back to Y109.71, finding support above
Y109.50 in late trade. A break of Y109.80 to expose Y110.00/05 ahead of Y110.30.
Support Y109.50/40, stronger between Y109.15/00. Asian traders said earlier that
moves toward Y109.00 likely to attract Japanese investors in off shore assets in
the new Japanese financial year. 
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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