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Broad-based dollar demand has seen the...>

DOLLAR-YEN
DOLLAR-YEN: Broad-based dollar demand has seen the rate breached yesterday's
Y114.08 high and post a top at Y114.15. There has been no discernible reaction
to the Japanese data just released, CPI excluding fresh food and energy, the
BoJ's favourite inflation measure came in as expected at 0.2%. Up next, the
opening of Japan's equity markets, Nikkei futures are currently +0.4%. In option
space, expiries at Y114.00($1.42bn) and Y114.42-50($1.53bn), that may act to
contain the near-term range. Key resistance lies at Y114.33 (61.8%
Y118.66-Y107.32), while hourly support is seen near Y113.70.

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