*Dec1 dollar-yen open Y112.54, range....>

YEN SUMMARY: *Dec1 dollar-yen open Y112.54, range Y112.32 to Y112.70

*Dollar-yen opened in Asia at the upper side of the Y111.74 to Y112.64 range

witnessed yesterday, where higher US rate yields and stronger US equities kept

the yen on the defensive.

*The stronger finished in New York encouraged early demand, the pair rose from

Y112.54 to Y112.70 before fading modestly

*News that the Senate had suspended the vote on the tax bill until 11 am Friday

ET caused risk come under some pressure. Nikkei turned into negative territory

after opening higher by 0.84%. In turn, dollar-yen eased from the mid-Y112.60's

to Y112.32.

*Recoveries were held to Y112.60 and the pair then consolidated in the Y112.50's

*After the Tokyo-lunch the Nikkei regained its composure and started to climb

higher, dollar-yen followed suit and edged up from Y112.53 to Y112.64

* Nearby expiries for today include; Y111.90(361mn), Y112.00($407mn),

Y112.65-70($43mn) and Y113.00($603mn).