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Dollar/yen: Europe open Y109.13,........>

YEN SUMMARY
YEN SUMMARY: Dollar/yen: Europe open Y109.13, range Y109.05-23, NY open Y109.19,
range Y109.06-Y109.41
*Rate dipped to Y109.05 in early Europe but quickly bounced, this time to
Y109.23.
*The rate dipped towards Y109.10 following US Tsys yields ahead of NY.
*Broad based dollar demand, in early NY witnessed the rate grind towards Y109.30
before losing momentum.
*The pair received a small lift following US Tsys Yields grinding higher, with
the rate printing a new intra-day high of Y109.41.
*As US Tsys yields turned negative, the pair followed suit with the
rate dropping towards Y109.25.
*Broad based dollar pressure following XAU rising over $18 an ounce
and US Tsys yields falling witnessed the rate drop towards Y109.03.
*The pair gets a small bounce into the NY close, as profit takers emerged, with
the rate heading towards Y109.15. 

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