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*Dec22 dollar-yen open Y113.33, range...>

YEN SUMMARY
YEN SUMMARY: *Dec22 dollar-yen open Y113.33, range Y113.27 to Y113.39. Eur/Jpy
open Y134.56, range Y133.91-Y134.66
*Dollar-yen opened in Asia towards the lower side of yesterday's Y113.20 to
Y113.64 range, where consolidation was the theme
*With the focus on euro, dollar-yen took a back-seat, consolidation was again
the theme with Japanese players notably side-lined ahead of tomorrows birthday
celebrations for the Emperor.
*There are several large option expiries rolling off today at Y113.00($2.04bn),
Y113.20-35($2.02bn) and Y113.50($2.29bn), that should act to contain the range.
*Eur/Jpy: Prop names started the down move by selling the cross from around
Y134.50 to Y134.37. It was thought the move was a delayed reaction to the
Catalan vote, where Catalonia's three pro-independence parties claimed victory.
* Comments from acting German Fin Min Gabriel warning of a minority government,
he added, an unstable government in Germany could probably lead to political
upheaval in Europe saw widespread euro weakness. The cross dived to Y133.91
before recovering to Y134.34 and then consolidated into the European open.
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