Dollar-yen: Aug16 close Y110.16,........>

YEN SUMMARY: Dollar-yen: Aug16 close Y110.16, Aug17 Asia range Y109.67-110.22,

Europe Y109.77-110.07

*Euro-yen: Aug16 close Y129.61, Aug17 Asia range Y129.14-71, Europe Y129.03-46

*Dollar-yen encountered sharp selling pressure in early Asia, the rate eased

from near Y110.20 to Y109.90

*Recoveries were held to Y110.00, before fresh supply from Japanese accounts

then pressed the dollar to Y109.67

*Noted buyers in the Y109.60's (Real money) provided a much needed cushion,

reports that South Korea's Moon said, 'There will be no war on the Korean

peninsula' encouraged short covering leading to a push higher to Y109.94

*Further short covering squeezed above Y110.00 in early Europe, but with lack of

follow through drifted to hold narrow range trade for the balance of the session

*Recoveries above Y110.00 continued to be sold into as focus turns to US Jobless

Claims/Phila Fed data (1230GMT) for direction

*Sharp euro-based cross sales saw euro-yen extend its corrective pullback of

European traded highs off Y129.46 to Y129.03. Demand remains at Y129.00.