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A quieter Asia session with TRY..........>

DOLLAR-YEN
DOLLAR-YEN: A quieter Asia session with TRY gyrations contained below Try7.00,
saw major FX currency pairs trade narrow ranges. The Nikkei index extended gains
to over 1%, this provided support to Y110.91 but with lack of follow through
drifted ahead of Europe. Once again, markets failed to convincingly hold above
the 100-hma (Y110.89) and will be monitored closely today. A clean break can
look to challenge the weekly tenkan line (Y111.27) and stabilise the recent
downtrend.
Option-expiries: Y110.00-05($1.32bn), Y110.25($433mn), Y112.00($324mn).

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