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Despite overnight remarks from Fed.......>

DOLLAR-YEN
DOLLAR-YEN: Despite overnight remarks from Fed Kaplan that warned a low 10-year
yield is an ominous sign, dollar-yen recovered off Asia lows of Y112.23 to
Y112.59. Light profit take sales eased, slippage extended into Europe to hold
Y112.35/40. On the topside resistance is seen at Y112.72 (50% Y113.44-111.99),
more techs at Y112.80/83 (Option-expiry $1.28bn, Oct10 high). Very light on the
data front today with main focus on the FOMC minutes at 1800GMT. Also worthy of
note we have Chicago Fed President Evans speaking at 1115GMT, followed by SF Fed
Williams at 1840GMT. Dollar-yen last Y112.38.  

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