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As the Dow continues to pare early losses.......>

YEN
YEN: As the Dow continues to pare early losses (currently -110), yen crosses
extend their recoveries off post US CPI react lows. Eur/Jpy rallied from Y131.61
to Y132.40, Gbp/Jpy moved back above Y148.00 to Y148.68, Aud/Jpy to Y83.95 and
Nzd/Jpy to Y78.19. The improving risk appetite has also seen Usd/Jpy hold around
the Y107.35/40 area. US equites expected to provide direction into the close.  

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