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Dollar-yen: Aug10 close Y109.15,........>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Aug10 close Y109.15, Aug11 Asia range Y108.91-109.22,
Europe Y108.91-109.27
*Euro-yen: Aug10 close Y128.53, Aug11 Asia range Y128.18-58, Europe Y128.07-50
*Geo-political tensions continued amid risk averse markets overnight, dollar-yen
edged lower from the open to Y109.00
*Rallies were limited to Y109.12, before further selling linked to regional
equites pressed to fresh 8-week lows of Y108.91
*Dip buyers emerged in early Europe, rate reclaimed Y109.00, short squeeze
extended through the Asia high to Y109.27 before fading
*Pullbacks were initially shallow, but as cross supply from momentum types
started to build, dollar-yen made a show back under Y109.00
*Rate touched Y108.91, support from the Asia low cushioned with minor recoveries
extending to Y109.01
*Euro-yen extended the corrective pullback through the Asia low to Y128.06.
Demand is reported at Y128.00
*Focus turns to US CPI (1230GMT) for direction. Yen pairs last Y109.02/Y128.13.

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