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Dollar-yen: Aug4 close Y110.66, Aug7....>

YEN SUMMARY
YEN SUMMARY: Dollar-yen: Aug4 close Y110.66, Aug7 Asia range Y110.65-85, Europe
Y110.66-84
*Euro-yen: Aug4 close Y130.35, Aug7 Asia range Y130.25-62, Europe Y130.45-87
*Dollar-yen opened in Asia toward the upper side of Friday's Y109.85-Y111.05
range, where upbeat US NFP's underpinned the dollar
*Demand in Euro-yen from Japanese names lifted from Y110.70 to Y110.85 before
momentum faded
*As traders reported of light volumes the rate drifted to hold either side of
Y110.70 for the balance of the session
*The quiet theme spilled over into Europe, dollar-yen initially held Y110.66-76
*Firmer UST yields supported, rate squeezed to Y110.84 before resistance from
the Asia high countered
*Euro-yen spiked 20 pips to Y130.75, possibly linked to eur-chf following the
rise in SNB forex reserves
*Gains extended to Y130.87, but with lack of follow through triggered light
profit take sales. Yen pairs last Y110.80/Y130.80.

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