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DOLLAR-YEN: As is the norm, local data has been ignored, with a focus on the
broader risk backdrop.
- USD/JPY had a look above Y107.00 in early Tokyo trade, but the move was
limited & fleeting, with the rate trading to session lows of Y106.76 after China
Labour Watch reported that Apple & Foxconn violated Chine labour rules at the
world's largest iPhone factory.
- Rate last -8 pips at Y106.84.
- Bears now look to take out the Sep 5 low at Y106.33, while bulls eye the
50-DMA (107.15), followed by the 38.2% retracement of the move from Y112.40 to