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Break above Y113.50 in early Europe......>

DOLLAR-YEN
MNI (London)
DOLLAR-YEN: Break above Y113.50 in early Europe said to have triggered quant
demand interest, as rate extended recovery to Y113.64. Rate has since settled
back around the Y113.50 level. Asian traders did highlight that the Y113.50
holds the strike of a decent sized expiry for Friday's NY cut, $2.14bn, with
decent sized expiries also mentioned at Y113.00($1.96bn and Y114.00($1.4bn)
which may act to keep rate confined to a suggested Y111/114 range. However,
saying that, Asian traders did add that a break of Y114.10 `could prove ugly`. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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