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Heading South




Breaches Key Short-Term Support


Late SOFR/Treasury Option Trade

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MNI (London)
DOLLAR-YEN: Bounce back from the recently posted low of Y108.45, seen on
mistaken story about a fresh earthquake detected in N.Korea, has edged above its
earlier intraday high of Y108.84 to Y108.95. Rate trades around Y108.85 at
writing. Earlier talk in Asia placed sell interest between Y108.90/109.00. Rate
earlier met strong support at the Y108.50 level, demand seen from two Japanese
megabanks suggesting possible stealth interest. Further onshore demand was also
noted scattered below Y108.50 to Y108.20. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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