Dollar-yen: Europe open Y110.85,........>

YEN SUMMARY: Dollar-yen: Europe open Y110.85, range Y110.62-89, NY open Y110.75,

range Y110.29-110.98

*Marginally weaker-than-expected US ADP Employment data countered by

higher revisions as the pair bounces off react lows of Y110.66 to Y110.82.

*Having consolidated post US ADP gains, another wave of dollar buying

lifts to a new intra-day high of Y110.98.

*The turnaround in UST yields with added weight from dovish Fed

Bullard remarks (MNI Exclusive) has seen dollar-yen extend its corrective

pullback off earlier traded highs of Y110.98 to Y110.60.

*Continued reaction to dovish comments from the Fed's Bullard, saw the rate fall

back under Y110.50.

*Continued pressure on the dollar, following US Tsys yields falling

has seen the rate drop to a new intra-day low of Y110.29

*The dollar gets a lift as US Tsys yields move off their intra-day

lows, that combined with reports of ECNS buying, has seen the rate drift towards

Y110.60.