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Amid the broader-based risk tone,........>

DOLLAR-YEN: Amid the broader-based risk tone, Usd/Jpy largely consolidated above
Y107.00 through Europe held to a narrow 30 pip range. Supply ahead of Y107.20
has so far provided a counter, a break here opens Y107.29/34 (Mar13 high,
55-dma). Also a reminder of the large optional expiry interest ($1.5bn) at
Y106.90/00, which could prove magnetic. Quiet on the US calendar today with main
release from Weekly Jobless Claims and Trade gap at 1230GMT. The level of
initial jobless claims (1230GMT) is expected to rebound by 9,000 to 224,000 in
the week ending March 31, that after a 12,000 decrease the previous week. The
international trade gap is expected to widen only slightly to $56.8 billion in
February from a $56.6 billion gap in January.
Option expiries: Y105.00 ($705mln), Y105.40 ($570mln), Y105.45-55 ($1.04bln),
Y105.85-90 ($1.2bln), Y106.00 ($551mln), Y106.90-107.00 ($1.5bln). Usd/Jpy last

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