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Demand at the NY crossover pushed the....>

DOLLAR-YEN
DOLLAR-YEN: Demand at the NY crossover pushed the rate on to Y111.30, before a
positive U.S. equity session/uptick in U.S. Tsy yields led to a session high of
Y111.83, although a pullback in longer dated Tsy yields saw the rate ease from
best levels, to last trade at ~111.70.
- The August high (Y112.15) is the next hurdle for bulls, while the 21- &
55-DMAs act as support. Bears will need a close below Y111.00 to shift the
outlook back to neutral and below the 200-DMA (Y109.83) to return the focus
toward the May 29 low (Y108.11).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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